The total trading volume on centralized crypto exchanges has decreased by 48% from its peak in October 2025, falling to $4.3 trillion in March 2026. Binance has maintained its dominant position in both spot and futures markets, according to CryptoQuant data.
The March figure is the lowest since October 2024. The perpetual futures market dominates trading structure, with $3.5 trillion compared to $0.8 trillion in spot trading—a difference of more than four times.
Source: CryptoQuant.Spot Market
Binance leads the spot trading volumes with $248 billion in March, holding approximately 32% market share. Since the beginning of 2026, the exchange has recorded nearly $1 trillion in spot trading. Its closest competitors—MEXC ($77 billion), Bybit ($59 billion), Gate ($56 billion), and Crypto.com ($52 billion)—are significantly behind.
Source: CryptoQuant.Binance's market share has decreased from 37% in October 2025, but it remains three times higher than that of MEXC (9%) and Bybit (7%).
Perpetual Futures
In the perpetual contracts market, Binance also ranks first with a monthly volume of $1.4 trillion and approximately 40% market share. OKX accounts for $0.7 trillion (19%), Bybit for $0.5 trillion (13%), Bitget for $0.3 trillion, and Coinbase for $0.2 trillion.
Source: CryptoQuant.The cumulative volume of Binance's perpetual futures since the start of 2026 has reached $4.5 trillion—twice that of OKX ($2.2 trillion) and three times that of Bybit ($1.5 trillion).
“The competitive landscape is intensifying but remains fragmented. Second-tier exchanges (MEXC, Bybit, Gate, Crypto.com) have increased their presence in spot volumes, yet none individually come close to Binance's scale. This highlights the growing competition without significant consolidation of market leadership,” analysts note.
Recall that in March, CryptoQuant experts recorded a historic daily increase in open interest on Binance during the Bitcoin rally.