According to the latest report from CoinGecko, trading volumes on the ten largest centralized cryptocurrency exchanges (CEX) decreased by 16.3% in Q1 2025, equivalent to $1.1 trillion, reaching a total of $5.4 trillion.
This is reported by Business • Media
Among them, the exchange Upbit was hit the hardest, losing 34% of its volume, reducing its figure from $561.9 billion to $371.0 billion. Meanwhile, Binance, despite an 18% drop in trading volume in March, remains the market leader with a share of 38%, although for the first time since October 2024, its volumes fell below $500 billion, reaching $482.6 billion.
“This decline reflects the overall trend of decreasing trading on centralized exchanges in 2025, where 8 out of the top 10 exchanges recorded double-digit declines in volumes,” the report states.
In second place by trading volume was Gate.io, which increased its figure to $113.7 billion, accounting for 14.4% of the market, surpassing Crypto.com, whose share has been decreasing since February. Bitget took third place, showing a stable growth of 1.7% month-over-month with a volume of $92 billion and a share of 7.2%. Since the beginning of the year, Bitget has increased its share from 4.6%.
It is worth noting that according to a report by journalist Colin Wu, in March 2025, the spot trading volume on CEX decreased by 16.4%, accompanied by the largest capital outflow at Bybit.