Top Four Global Crypto Exchanges Listed in Q2 2025

In the second quarter of 2025, the top four global cryptocurrency exchanges were Binance, OKX, Bybit, and Bitget, based on their activity in spot and derivatives markets. Binance led with 35.39% of the trading volume, although this was a slight decrease from the previous quarter. OKX saw an increase in its market share to 14.34%. Bybit's share decreased slightly to 12.26% despite recovering from a significant hack earlier in the year. Bitget's platform activity rose to 11.45%, supported by the addition of over 2 million new users. The total crypto exchange market reached $21.6 trillion among the top 10 exchanges. While Bitcoin's value hit $122,000 and other cryptocurrencies surged, the overall trading volume on these exchanges actually declined, potentially due to factors like cautious retail investors, slow regulatory advancements, global political issues, and legal uncertainties.