Binance outperforms competitors in spot trading in 2025, exceeding $1.9T

In 2025, Binance firmly established itself as a leader in spot trading volume on cryptocurrency exchanges.

After analyzing the accumulated data from the beginning of the year, CryptoQuant found that the platform maintained a commanding potential customer of up to $1.9 trillion in spot trading volume.

See Binance’s spot trading volume soaring in 2025

According to CryptoQuant’s analysis, Binance currently controls more than 43% of the total cargo volume, or $4.56 trillion. That’s more than three times its closest competitor, Crypto.com, and that number accounts for just 12.12%. Interestingly, Binance exceeded the total number of the next five exchanges, including major players such as Coinbase, Bybit and Okx.

Higher trading volumes often increase liquidity, which is crucial for traders to ensure trading, faster entry and exit points, and stricter spreads.

While it may be possible to lead the exchange of strong ties with US institutions like Coinbase, Binance’s global reach and liquidity positioned it as a major player in the spot trading space in 2025.

As early as September 2024, cryptocurrency exchange market share declined by four-year lows, which coincided with the increase in regulatory pressure on companies. Therefore, the latest transformation since then is worth noting.

Binance, SEC asks court to delay

In early February this year, the SEC, Binance and its former CEO Changpeng ‘CZ’Zhao jointly demanded a 60-day stay in their ongoing case. The request, filed with the U.S. court, is intended to provide time and save resources for early solutions.

The legal lawsuit, which began in 2023, stems from allegations that Binance and Bam Management (Binance US) and CZ violated the securities laws. The court application mentioned that the recently established crypto task force could help resolve the case.

The task force was founded in January by SEC Acting Chairman Mark T. Uyeda to create a clearer regulatory framework for the crypto industry. Crypto companies have long advocated regulatory clarity on execution-driven approaches.

It is worth noting that the landscape of crypto regulations has changed after former SEC chairman Gary Gensler left, with several enforcement actions now underway after President Trump issued an executive order to promote crypto-friendly policies.