Binance Holds 38% Market Share, CoinGecko Reports

By: bitcoin ethereum news|2025/05/09 21:00:12
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Key Notes Binance leads with 38% market share despite an 18% drop in April trading volume. Overall top 10 exchange volume fell 16.3%, losing $1.1 trillion in value. Crypto.com plummeted from 2nd to 9th place amid a 26.1% decline. Binance has maintained its dominance in the centralized crypto exchange landscape, securing a 38.0% market share at the start of Q2 2025. However, despite holding the top position, the exchange experienced an 18% drop in trading volume. According to a report published by CoinGecko, Binance’s trading volume stood at $482.6 billion in April 2025, down from $588.7 billion the previous month. This marked the first time since October 2024 that its monthly volume fell below the $500 billion threshold, potentially signaling a shift in market dynamics. The steep decline also had a broader impact, contributing to a 16.3% reduction in the total trading volume of the top 10 crypto exchanges, wiping out $1.1 trillion in value. Gate.io emerged as the second-largest exchange by trading volume in April 2025, securing a 9% market share with $113.7 billion in trades. This marked a 14.4% increase from the previous month’s $99.4 billion and enabled the platform to surpass Crypto.com, which fell to ninth place. Crypto.com experienced a sharp 26.1% decline in growth and now holds a reduced market share of 6.2%. Bitget secured the third position among crypto exchanges, demonstrating growth in spot trading volume comparable to Gate.io. Starting the year with a market share of just 4.6%, Bitget successfully increased its share to 7.2% by April 2025. By the close of that month, the centralized exchange reported a trading volume of $92.0 billion. Spot Trading Volume in Q1 Spot trading activity across the leading 10 centralized exchanges experienced a downturn, with several platforms recording double-digit percentage losses. Upbit faced the steepest decline, with its trading volume plunging by 34.0%, sliding from $561.9 billion in Q4 2024 to $371.0 billion in Q1 2025. In April 2025, the combined trading volume for the top 10 crypto platforms dropped by 16.3%, resulting in a $1.1 trillion decrease. The total monthly volume settled at $1.3 trillion. The drop experienced by Crypto.com is surprising especially since it launched an expansion plan across Europe in the first quarter of 2025. The exchange rolled out its full suite of services, including spot and derivatives trading, to all European Economic Area (EEA) member states in the first quarter of 2025. This expansion followed Crypto.com’s full regulatory approval in Malta under the EU’s Markets in Crypto-Assets Regulation (MiCA) framework. next Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content. Binance News, Cryptocurrency News, News Rose is a crypto content writer with a strong background in finance and tech. She simplifies complex blockchain and cryptocurrency topics, offering insightful articles and market analysis to help readers navigate the evolving crypto landscape. Rose Nnamdi on LinkedIn Source: https://www.coinspeaker.com/binance-retains-market-dominance-at-38-percent/

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


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