Odaily Planet Daily News Odaily Planet Daily News Recently, Bitcoin.com News, a media co-founded by early Bitcoin evangelist Roger Ver, released an analysis report on the world's top ten cryptocurrency exchanges in 2025.
Data shows that Binance ranks first with a spot trading volume of US$2.2 trillion and a market share of 40.7% in the first quarter. Bybit ranked second with $3.61 billion in net inflows and $14.9 billion TVL in March. Bitget ranked third with a quarterly trading volume of US$2.08 trillion and a spot growth rate of 159% month-on-month, and a global user base of 120 million. Coinbase's derivatives trading volume increased by 6,200% year-on-year, ranking fourth; Kraken ranked fifth with an average daily spot trading volume of US$283 million and over 13 million users.
The report analysis pointed out that each exchange exhibited different characteristics in terms of compliance, product innovation and user growth. Binance has outstanding advantages in depth and liquidity, Bybit stands out with high inflows and TVL, Bitget and Coinbase are notable in user growth and derivatives performance respectively, and Kraken maintains a stable user base. In addition, the article mentioned that the current market is in a stage of adjustment. As the regulatory environment gradually becomes clearer and traditional financial institutions accelerate their entry, the crypto trading industry may usher in development opportunities in the second half of the year.
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