The post CEX dominance persists despite rapid growth in DEX volumes appeared on BitcoinEthereumNews.com.

CEXs Centralized exchanges are dominated by a few big players, with Binance far outpacing all others in trading volume. With around $17 billion in 24-hour volume recorded on March 25, Binance’s trading volume is an order of magnitude higher than any other exchange. Binance offers roughly 1,868 markets (479 coins) and captures an outsized share of global trading (routinely 50%+ of all crypto spot volume). Coinbase recorded $2.8 billion in volume in the past 24 hours, with 431 markets and 289 coins listed. While Coinbase’s volume is large, it is roughly one-sixth of Binance. The US exchange benefits from fiat on-ramps and institutional clientele but has a smaller global user base. OKX and Bybit both saw $2.5 billion in trading volume, while Bitget and MEXC recorded around $2.20 billion each. In aggregate, the top 10 CEXs account for the vast majority of crypto trading, with Binance alone constituting anywhere between 34% and 60% of total spot volume on any given day. Top 10 centralized exchanges (CEXs) and their 24-hour spot trading volume on March 25 (Source: CoinMarketCap) CEXs as a group list thousands of markets, but their listing strategies often differ significantly. Exchanges like Gate.io and MEXC list more than 4,000 markets each, far more than major regulated exchanges. These exchanges tap into the long tail of digital assets, which can boost reported volume (as active traders speculate on many small tokens). In contrast, an exchange like Coinbase offers under 500 pairs and focuses on quality and liquidity. Binance (~1,868 markets) strikes a balance – it lists many coins (including new project launches) but also concentrates volume in a few top pairs (BTC/USDT, etc.). Generally, having more markets can attract niche trading activity. However, the majority of volume on CEXs still comes from a handful of top pairs (BTC, ETH, and…

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Filed under: News - @ March 26, 2025 1:24 am