BlockBeats News, May 16th. Recently, Bitcoin.com News, founded by early Bitcoin evangelist Roger Ver, released the 2025 Global Top 10 Cryptocurrency Exchanges Analysis Report.

The data shows that Binance, with a first-quarter $2.2 trillion spot trading volume and a 40.7% market share, holds the top spot. Bybit ranks second with $3.61 billion in net fund inflows in March and a $149 billion TVL. Bitget ranks third with a $2.08 trillion quarterly trading volume, a 159% spot volume growth rate, and a global user base of 120 million. Coinbase saw a 6200% year-on-year growth in derivative trading volume, placing fourth. Kraken ranks fifth with a daily average of $283 million in spot trading volume and over 13 million users.

The report analysis points out that each exchange has different characteristics in terms of compliance, product innovation, and user growth. Binance has outstanding advantages in depth and liquidity, Bybit excels in high inflows and TVL, Bitget and Coinbase show significant performance in user growth and derivatives, respectively, and Kraken maintains a stable user base. Additionally, the article mentions that the current market is in an adjustment phase, and as the regulatory environment becomes clearer and traditional financial institutions accelerate their entry, the cryptocurrency trading industry may see development opportunities in the second half of the year.