Binance Leads Crypto Trading With $7T Spot Volume: CryptoQuant

Binance continued to be the spot volume leader in the crypto sector during 2025, according to CryptoQuant’s annual report on exchanges.

Bybit and Crypto.com followed in second and third, respectively. While the latter observed a volume jump of 4.5% during 2025, the former actually saw a decline of over 14%. The platform that most stands out for its volume change between 2024 and 2025 is MEXC, witnessing an increase of a whopping 90%.

Binance saw a total of 25 trillion in crypto derivatives volume during 2025, up 20% compared to 2024. Nearly all of the platforms listed in the chart observed an year-over-year increase in the metric, indicating that speculative activity as a whole shot up in the sector over 2025. “In terms of growth, Gate stands out, having increased its perpetual futures trading volume by 468%,” noted the analytics firm.

Many exchanges saw a balanced derivatives volume composition, but Bitget, Coinbase, and Crypto.com stood out for their Bitcoin-heavy volumes. Coinbase in particular saw the original digital asset dominate, making up for 81.5% of all futures trading on the platform.

Based on some key exchange-related categories, CyrptoQuant has defined an “Exchange Score Index” that ranks the various crypto platforms. “These categories are designed to evaluate the overall market position, transparency, growth and trading profile of each exchange,” explained the analytics firm.

As is visible in the below chart, MEXC ranked the highest in this indicator during 2025. CryptoQuant noted that the exchange’s position is backed by “strong derivatives scale and solid year-over-year growth momentum.”

Bitcoin has seen a breakout during the past day that has taken its price to the $73,100 level.