The crypto market continues to grow as centralized exchange (CEXS) gains momentum. Recently, Phoenix Group reported that Binance saw its largest weekly trading volume compared to other centralized exchanges. It also recorded a 24-hour volume of $23.42 billion ahead of its competitors. In second place, Gate.io's seven-day volume was $27 billion and 24-hour volume was $4.4 billion.
Top centralized exchanges based on weekly trading volume
#binance #gateio #coinbase #okx #cryptocom #bitget #bybit #mexc #upbit pic.twitter.com/chmdeezhlr– Phoenix – Crypto News & Analytics (@pnxgrp) April 9, 2025
In the third and fourth positions, Coinbase and OKX were $17.2 billion in seven-day volumes. Over the same 24 hours, Coinbase's volume was $4.27 billion, but for OKX it was $3.86 billion. This is reflected in high levels of trading beyond major exchanges due to user engagement and continued market activity.
Overall activities with other major players
Crypto.com's seven-day trading volume was $16.8 billion, with a 24-hour volume of $4.866 billion. MEXC, BYBIT and UPBIT came in second, third, fourth and fourth in the weekly volumes of $16.4 billion, $15.7 billion and $15.4 billion. Over the course of seven days, Bitget announced $16.4 billion, MEXC $13.9 billion, BIDIBIT $15.7 billion and Upbit $11.3 billion.
Combined with all the centralized exchanges, weekly trading volume was $29.574 billion. This data is aggregated from 58 active central exchanges, and the centralized platform maintains its dominant position in digital asset trading. Additionally, it reports a centrally divided trading volume ratio of 11.76%, indicating that it prefers central exchanges in April 2025.
Market trends and trading preferences
This shows that the current state of the market is that users use centralized exchanges to facilitate trading and liquidity. Decentralized exchanges are still very relevant, but most crypto volumes are centralized. The high trading volumes of Binance and gate.io suggest user activity and liquidity on these platforms.
