According to CryptoQuant data, Binance has so far taken the lead in spot trading volume in 2025. The cumulative spot trading volume chart shows that Binance leads with its largest share of activity, reaching $1.9 trillion since the beginning of 2025, and Binance controls 43.66% of the total spot market trading volume ($4.56 trillion), i.e.: - More than 3.6 times its closest competitor - Greater than the total trading volume of the next five exchanges