According to the Q1 2025 Crypto Industry Report released by CoinGecko, the spot trading volume of the top 10 CEXs in the first quarter of 2025 was $5.4 trillion, a quarter-on-quarter decrease of -16.3%. Binance remains the leader of CEXs, with a market share of 40.7% as of the end of March; HT was the only exchange among the top 10 to achieve growth in the first quarter, increasing by 11.4%; Upbit's spot trading volume dropped by 34%, the largest decline, from $561.9 billion in Q4 2024 to $371 billion in Q1 2025.
The top 10 CEXs’ spot trading volume in Q1 2025 is $5.4 trillion
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