In June 2025, the spot trading volume on centralized cryptocurrency exchanges (CEX) decreased to $1.07 trillion, marking the lowest level since September 2024. Compared to May 2025, when the volume was $1.47 trillion, this represents a significant decline. The reported figure is also nearly 64% lower than the historical peak of $2.94 trillion recorded in December 2024.
This is reported by Business • Media
Changes in Market Leaders and Trader Activity
Among the largest centralized platforms, Binance holds the top position in trading volumes with $436.24 billion. Following are Huobi ($91.27 billion) and ByBit ($81.99 billion). However, by the end of June, the market shares of these exchanges decreased, with ByBit dropping from second to third place, falling behind Huobi. Bitget also lost its spot in the top three.
Analyst Min Jung from Presto Research explains this trend as a result of low retail trader activity. According to him, the market is currently influenced by institutional investments in Bitcoin, while altcoins are showing stagnation and remain far from their peak values.
“The current market movement is focused on institutional inflows into Bitcoin, while altcoins are experiencing stagnation and are extremely far from their highs.”
Growth of Decentralized Exchange Market Share
At the same time, decentralized exchanges (DEX) are showing stability: in June, their trading volume reached $390.76 billion, which is only slightly lower than in May, when it was $402.12 billion (according to DeFiLlama).
The share of DEX in the total spot trading volume reached 29.65% in June 2025, indicating a growing interest among traders in decentralized platforms.
According to Min Jung, this is due to the increasing popularity of the Hyperliquid platform and the activity of traders participating in token giveaways.