Overall Leaders:
•
#MEXC •
#Binance •
#bybit But the rankings are just the starting point.
Here are the key insights 👇
1️⃣ Spot Market
Binance dominates spot with $7.0T in trading volume, the highest in the industry.
Growth leader: MEXC (+90% YoY) in spot volume.
2️⃣ Derivatives Market
Binance leads with $25T in perpetual futures volume (+20% YoY).
Growth standout: Gate (+468% in perps volume).
3️⃣ Derivatives Volume Mix
Bitget ranks among the most
#bitcoin -dominant derivatives venues, alongside
#coinbase and Crypto dot com — highlighting distinct product strategies across exchanges.
4️⃣ Transparency & Proof of Reserves
Top performer:
• KuCoin — 96.7 (A+)
Transparency standards vary meaningfully across exchanges.
5️⃣ CeFi Lending
Tether dominates with a ~$17B loan book.
Second tier: Maple, Galaxy & Nexo (~$1.7–2.0B each).