Binance has approached 50% market share in Bitcoin spot trading, up from 33% in February. This positions Binance ahead of all other crypto exchanges combined. Simultaneously, altcoin spot trading share rose from 38% to 44%. CEO Richard Teng credits this success to user trust in their platform’s reliability. Notably, Xapo Bank and HTX Exchange also report substantial gains in Q1 2025 during a challenging market.
Binance has recently reached a significant milestone, achieving nearly 50% market share in daily Bitcoin spot trading. This increase from 33% at the beginning of February highlights Binance’s dominance, as it now surpasses the combined volumes of all other cryptocurrency exchanges. Additionally, Binance’s share in altcoin spot trading increased from 38% to 44%, indicating its expanding reach in the cryptocurrency market.
The growing market share of Binance reflects the confidence that users have in its technology, security, and liquidity. CEO Richard Teng expressed pride in Binance’s role as a trusted platform for millions, even during times of market turmoil. The exchange assures its commitment to providing a dependable and user-centric trading environment, promoting sustainable crypto growth.
Data from specific trading days further illustrates Binance’s dominance. On February 24, even as Bitcoin’s value dropped from $96,000 to $90,000, Binance’s spot trading volume exceeded that of all other exchanges. At that point, Binance accounted for 64% of the total altcoin spot trading volume, totalling approximately $18 billion. This showcases Binance’s capability to serve as a reliable platform during market fluctuations.
While Binance thrives amidst bullish trading conditions for BTC and altcoins, other platforms, such as Xapo Bank, are also noteworthy. Xapo Bank revealed a record increase of 14.2% in BTC trading volumes in Q1 2025 compared to the previous quarter. Similarly, HTX Exchange, with Justin Sun as Global Advisor, reported a remarkable 210% surge in net crypto deposits and a 116% increase in new users, indicating positive engagement in the crypto space, even in bearish markets.
