In September 2025, centralized cryptocurrency exchanges recorded the lowest spot trading volume since June — $1.67 trillion. Compared to August, when this figure was $1.85 trillion, the volume decreased by 9.7%.
This is reported by Business • Media
“September was the weakest month for centralized crypto exchanges since June, according to The Block.”
Market Leaders of Centralized Exchanges
Binance retains the largest market share, processing $636.5 billion in transactions in September. This is a 13.6% decrease from August, when the figure was $737.1 billion. Bybit ranked second with a volume of $132.1 billion, followed by Gate.io ($124 billion) and Bitget ($117.9 billion).
Trends on Decentralized Platforms
Decentralized exchanges also experienced a decline: in September, the total trading volume amounted to $363.4 billion compared to $368.8 billion in August. Uniswap showed the largest drop — from $143 billion to $106.5 billion. Meanwhile, PancakeSwap increased its volume from $58.7 billion to $79.8 billion.
It is worth noting that in September 2025, trading on decentralized derivative platforms (perp DEX) exceeded $1 trillion for the first time, reaching $1.143 trillion, which is 49.5% more than the previous month.