Q2 market update: Binance leads, but OKX, Bybit and Bitget are coming strong

According to a TokenInsight report, the top 10 crypto exchanges saw a total trading volume of $21.6 trillion in Q2 2025, a 6.16% decrease from the previous quarter. While crypto market capitalization increased by 28.2% to $3.46 trillion, driven by Bitcoin's recovery to $106,000 and ETF inflows, cautious investor sentiment led to declining trading volumes. Binance continues to dominate the market with a 35.39% share, though slightly down from Q1. OKX secured the second position with 14.34% market share showing steady growth. Bybit holds the third position, with Bitget and MEXC following closely. Spot trading volume fell 21.7% to $3.63 trillion, while derivatives trading decreased by 3.6% to $20.2 trillion. Exchange tokens generally underperformed Bitcoin, with BNB recording the highest gain among them.