- Binance holds 39.2% market share, far surpassing every centralized competitor
- CoinGecko data shows sharp volume concentration despite competition among exchanges
- CZ says liquidity depth and infrastructure drive user trust globally
Binance remains the largest centralized cryptocurrency exchange by market share based on newly released industry data. CoinGecko reported that Binance continues to account for the highest share of global centralized trading volume. The figures show where traders currently execute most centralized crypto transactions.
Following the release, Binance co-founder Changpeng Zhao commented on the data and its implications for exchange rankings. He stated that market share results from user behavior, as traders express preference through capital allocation.
CoinGecko data shows clear market separation
Binance controls 39.2% of the centralized exchange market share, placing it far ahead of every competitor in the ranking. Bybit follows with 8.1%, while MEXC holds 7.8%, reflecting close competition among mid-tier platforms.
Gate accounts for 7.5% of the market, while Crypto.com records a 7.2% share, maintaining a similar position. Bitget and OKX report comparable levels at 6.4% and 6.3%, showing limited separation between several exchanges.
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Coinbase holds 6.1%, continuing to post steady activity despite regulatory pressure in the United States. HTX records a 6.0% share, while Upbit rounds out the top ten with 5.5%, completing a tightly grouped lower half of the ranking.
CZ points to user behavior and infrastructure
Zhao provided additional context by noting that CoinGecko operates in the same data sector as CoinMarketCap, which remains part of Binance’s investment portfolio. He described CoinGecko as a competing data provider while emphasizing that the report was released independently.
He further stated that Binance’s position reflects liquidity depth, platform reliability, and infrastructure strength rather than competitive narratives. Zhao linked sustained trading volume to user confidence during ongoing regulatory scrutiny across centralized exchanges.
The CoinGecko report and Zhao’s remarks together outline the current structure of the centralized exchange market, where trading activity remains concentrated at the top. Binance continues to maintain the largest share as users prioritize platforms they view as operationally stable.
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