TechFlow news, May 16 — Recently, Bitcoin.com News, a media outlet co-founded by early Bitcoin advocate Roger Ver, released its 2025 Global Top 10 Cryptocurrency Exchanges Analysis Report.
Data shows Binance maintained its leading position with $2.2 trillion in spot trading volume and a 40.7% market share in Q1; Bybit ranked second, driven by $3.61 billion in net fund inflows in March and a TVL of $14.9 billion; Bitget came third with $2.08 trillion quarterly trading volume and a 159% quarter-on-quarter growth in spot trading, serving 120 million users globally; Coinbase ranked fourth due to a 6,200% year-on-year surge in derivatives trading volume; Kraken secured fifth place with an average daily spot trading volume of $283 million and over 13 million users.
The report highlights distinct strengths among exchanges in compliance, product innovation, and user growth. Binance excels in market depth and liquidity, Bybit stands out with high inflows and TVL, Bitget and Coinbase show strong performance in user acquisition and derivatives respectively, while Kraken maintains a stable user base. Additionally, the article notes the market is currently in an adjustment phase, and as regulatory clarity improves and traditional financial institutions accelerate their entry, the crypto exchange industry may see development opportunities in the second half of the year.
