The crypto markets continue to grow as Centralized Exchanges (CEXs) gain momentum. Recently, Phoenix Group reported that Binance saw the largest weekly trading volume compared to other centralized exchanges, with $94.8B. It also recorded a 24-hour volume of $23.42 billion, ahead of its competitors. In second place, Gate.io had a 7-day volume of $27.0 billion and a 24-hour volume of $4.41 billion.
In third and fourth positions were Coinbase with $17.7 billion and OKX with $17.2 billion in 7-day volume. Over the same 24-hour period, Coinbase’s volume was at $4.27 billion, while for OKX, it was $3.86 billion. This is reflected in a high level of trading over major exchanges partly due to continued user engagement and market activity.
Other Major Players and Overall Activity
The 7-day trading volume for Crypto.com was $16.8 billion and the 24-hour volume was $4.86 billion. MEXC, Bybit, and Upbit took second, third, and fourth place with weekly volumes of $16.4 billion, $15.7 billion, and $15.4 billion. Over the seven days, Bitget announced $16.4 billion, MEXC $13.9 billion, Bybit $15.7 billion and Upbit $11.3 billion.
Combined with all centralized exchanges, the weekly trading volume was $295.74 billion. This data was aggregated from 58 active centralized exchanges, with centralized platforms maintaining their dominant position in digital asset trading. Furthermore, it reported an 11.76% Central to Decentral trading volume ratio, indicating a high preference for the centralized exchange in April 2025.
Market Trends and Trading Preferences
This shows that the current state of the market involves users using centralized exchanges for ease of trading and liquidity. Decentralized exchanges are still very relevant, but most crypto volumes are centralized. Binance and Gate.io’s high trading volume suggests user activity and liquidity on these platforms.
