Binances Market Share in Spot Trading Reaches 12-Month Peak

The market share of Binance, the largest cryptocurrency exchange, in spot trading has reached its highest level in the past 12 months at 41%, according to data from The Block.

The exchange’s share in Bitcoin trading stands at 45.6%, the highest since July 2024. Since March 2025, the Ethereum (ETH) market share has maintained a level of 50%, occasionally surpassing that figure.

Interestingly, this increase in metrics occurs amidst a general decline in cryptocurrency market activity.

One of the contributing factors to this growth may be the migration of customers from Bybit following a hack of the exchange in February 2025. Additionally, user engagement has been boosted by the launch of Binance Alpha and the gamified rewards system, Alpha Points.

Previously, Binance consolidated $31 billion in reserves within Tether (USDT) and USDC, which accounts for nearly 59% of the total stablecoin volume across the top 20 exchanges.