The post Binance Holds 40%, But MEXC Is Surging appeared on BitcoinEthereumNews.com.
Binance leads the CEX market with a 39.8% share and a July volume of $698.3B, up 61.4% from June. MEXC jumps to second place, with an 8.6% share, a $150.4B volume, and strong quarterly growth from Q1. Coinbase drops to 9th despite 82.6% MoM surge; Crypto.com posts steepest quarterly decline. Binance continued its reign as the top centralized crypto exchange (CEX) in July, capturing a 39.8% market share. According to the latest data from CoinGecko, the platform handled $698.3 billion in spot trading volume for the month, a massive 61.4% jump from June as Bitcoin’s rally drove market-wide activity. How have things changed: Binance’s dominance is a long-running story. Here’s a look back at our market share report from April. Following the leader, MEXC ranked second with an 8.6% market share ($150.4B in volume), while Gate.io placed third, capturing 7.8% of the market ($137.2B). The rest of the top 10, including Bitget, Bybit, and OKX, each held market shares between 5% and 7%. In fact, seven of the top 10 exchanges saw their volumes decline quarter-over-quarter, with Crypto.com seeing the steepest drop of 61.4%. The big winner of the quarter was MEXC, which surged from eighth place in Q1 to second place in Q2. Coinbase Continues to Lose Ground Meanwhile, Coinbase fell to ninth place in the July 2025 rankings, with just a 5.8% share of the market. While its monthly volume saw a healthy 82.6% increase from June, the exchange has steadily lost market share since January, when it held 7.0%. In Q2 2025, Binance held a 38.0% share of the top 10 exchanges’ combined $3.8 trillion trading volume, down from $2.0 trillion in Q1 to $1.47 trillion. Seven of the top 10 exchanges saw quarterly declines, with Crypto.com recording the steepest drop of 61.4%, falling from $560.2 billion…