Binance Captures 94% Airdrop Market Share Driving User Engagement

Binance dominates the airdrop market with a 94% share, distributing over $2.6 billion in 2024. It also leads Bitcoin liquidity, claiming 32% of the market among major exchanges, and shines in transparency with proof-of-reserves coverage exceeding 100%.

In a remarkable showcase of influence, Binance has managed to secure a staggering 94% of the airdrop market share as of June 2025. This positions it squarely at the forefront of centralized cryptocurrency exchanges. Notably, Binance has not delisted any tokens since the start of 2023, a decision that reflects its steady operational practices and strategic listing approach, per reports from CryptoQuant.

The numbers tell a compelling story. In 2024 alone, Binance distributed over $2.6 billion in airdrops, significantly outpacing its competition and reinforcing its market dominance. Programs like Launchpool and Megadrop have not only drawn in millions of users but have also bolstered engagement significantly, painting a picture of a thriving platform. As we move forward in 2025, projections indicate Binance’s continued supremacy in listing quality and reward distribution, making it an attractive option for crypto investors looking for stability.

But it’s not just the airdrop market where Binance shines. According to CoinGecko, Binance is leading in Bitcoin liquidity, holding around $8 million in liquidity depth on both sides within a +/- $100 range. This gives it a hefty 32% share of BTC liquidity among major exchanges, clearly ahead of competitors like Bitget and OKX.

Digging deeper, within an even tighter +/- $10 range, Binance is the sole platform boasting over $1 million liquidity on each side. Although Bitget managed to surpass Binance in Ethereum liquidity within a +/- $2 range, the latter regained its ground at wider depths, holding a 25% liquidity share compared to its 32% in Bitcoin. For XRP, a collaborative effort with Bitget and Coinbase sees them control around 67% of liquidity in a tight +/- $0.02 range.

In the realm of Solana, Binance maintains roughly a 20% liquidity share at a +/- $1 range. With Dogecoin, the crypto exchange’s liquidity remains fairly balanced alongside Bitget, OKX, and Coinbase.

Transparency seems to be another key pillar for Binance. Previous reports from CryptoQuant have highlighted Binance as a leader in proof-of-reserves (PoR), consistently maintaining coverage above 100% and providing regular monthly reports. OKX closely trails in this aspect, ensuring full capital backing along with monthly disclosures. Contrastingly, Coinbase finds itself in a less favourable position, having not published any PoR reports, which is quite noteworthy.

In summary, Binance is continuing to show impressive market strength in both airdrop participation and liquidity management, signalling a robust year ahead for users and investors alike.