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Binance Extended Crypto Exchange Dominance During May Trading Frenzy
Binance led competitors in May with a monthly trading volume of $2.46 trillion, up 49% from April levels.
Updated Sep 14, 2021, 1:07 p.m. Published Jun 7, 2021, 6:32 p.m.
Binance, the world’s largest cryptocurrency exchange, extended its dominance of the industry during a record trading frenzy in May.
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The exchange handled some $1.5 trillion of spot trades in May, a 63% increase from April, according to a report by CryptoCompare. That compares with an average increase of 39% for the 15 largest top-tier crypto exchanges. Huobi, the closest competitor, saw its spot volume slip by 6% to $271 billion.
The bitcoin price fell some 35% in May, the biggest monthly drop since November 2018, and the correction prompted a flurry of activity as investors rushed to reposition.
Read more: Cayman Islands, U.S. and Gibraltar Are Top Crypto Hedge Fund Jurisdictions
Binance also extended its lead in the market for crypto derivatives in May, with a monthly trading volume of $2.46 trillion, up 49% from April levels.
No. 2 exchange OKEx saw a 51% increase to $999 billion, followed by Bybit's $574 billion, up 24%, and Huobi’s $536 billion, up 18.3%.
Read more: Bitcoin Struggles Below $40K; Upside Limited as Trend Weakens
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tether adds nearly $800 million in bitcoin, bringing holdings above 96,000 BTC
The purchase is part of Tether's strategy to use up to 15% of its quarterly profits for bitcoin acquisitions.
What to know:
- Tether added 8,888.88 BTC to its treasury wallet as part of its Q4 2025 profit allocation.
- The purchase is part of Tether's strategy to use up to 15% of its quarterly profits for bitcoin acquisitions.
- Tether's approach allows it to diversify reserves without affecting the assets backing its stablecoin liabilities.
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