Cryptocurrency data platform CoinGecko has released its latest market share report for centralized exchanges (CEXs) based on April 2025 trading volumes. The data reveals significant shifts in exchange rankings, with Gate.io emerging as the month's standout performer.
Key Market Trends
- Binance retained its market dominance with 38% share ($482.6B volume), though volumes dropped 18% from March
- Gate.io climbed to second place (9% share) with 14.4% monthly growth - the only top-10 exchange with double-digit gains
- Bitget secured third position (7.2% share) continuing its steady rise from 4.6% share at year's start
- Overall top-10 exchange volumes declined 16.3% QoQ to $5.4T in Q1 2025
Exchange Performance Breakdown
Market Leaders
Binance
- April 2025 Volume: $482.6B
- Key Insight: First sub-$500B month since October 2024
Gate.io
- April 2025 Volume: $113.7B
- Growth: +14.4% MoM
- Notable: Overtook Crypto.com despite Q1 2025 sixth-place finish
Bitget
- April 2025 Volume: $92B
- Growth Strategy: Consistent monthly gains since January
👉 Discover how OKX maintains competitive liquidity
Other Top Performers
| Rank | Exchange | Market Share | April Volume |
|---|---|---|---|
| 4 | MEXC | 7.1% | $85.8B |
| 5 | OKX | 7.0% | $84.5B |
| 6 | Coinbase | 6.9% | $83.3B |
| 7 | Bybit | 6.7% | $80.9B |
| 8 | Upbit | 6.4% | $77.3B |
| 9 | Crypto.com | 6.2% | $74.9B |
| 10 | HTX | 5.4% | $65.2B |
Market Dynamics
Q1 2025 Challenges:
- 9/10 top exchanges saw volume declines
- Upbit experienced steepest drop (-34%)
- Only Gate.io showed positive growth trajectory
Binance's Position:
- Processed $2T volume in Q1 2025
- Maintained 37.5% share among top 10 exchanges
👉 See how leading exchanges adapt to market changes
FAQ: April 2025 Exchange Rankings
Q1: Why did Gate.io rise so significantly?
A: Gate.io's 14.4% monthly growth stems from strategic liquidity improvements and new trading pair introductions that attracted institutional traders.
Q2: Is Binance losing market dominance?
A: While Binance's share dipped slightly, its 38% April market share still nearly quadruples its nearest competitor, maintaining clear leadership.
Q3: Which exchange is best for spot trading?
A: Top exchanges like Binance, OKX, and Coinbase offer robust spot markets, but traders should evaluate based on specific coin availability and fee structures.
Q4: How does Bitget maintain consistent growth?
A: Bitget has focused on derivatives innovation and trader education programs, helping it capture market share from larger competitors.
Q5: Will the market decline continue?
A: Exchange volumes typically follow Bitcoin price trends. Current data suggests traders are becoming more selective rather than exiting markets entirely.
Conclusion
The April 2025 exchange rankings demonstrate dynamic competition in cryptocurrency markets. While established players like Binance maintain leadership, agile exchanges like Gate.io and Bitget prove that strategic execution can drive meaningful market share gains even during broader market contractions.
Remember: Past performance doesn't guarantee future results. Always conduct your own research before trading.