Binance announced total trading volume of $34 trillion in 2025, as it expanded from traditional order-book execution into a combined environment for spot markets, advanced trading tools and Web3 discovery through Alpha 2.0, while maintaining regulated infrastructure and deep liquidity.
According to independent researchers studying 32 global exchanges, Binance managed between one-third and nearly half of all Bitcoin and Ethereum trading volume in 2025. The report said that this share increased during periods of market stress or excitement as users sought the deepest order books and most reliable execution, which reinforced a cycle of higher liquidity, tighter spreads, and lower costs.
Binance Spot recorded over $7.1 trillion in trading volume in 2025, increasing its market share compared to competitors. The report highlighted that this performance was due to expanded listings and liquidity support with 490 assets and 1,889 spot trading pairs. Initiatives such as USDC-focused promotions were also mentioned as efforts to concentrate liquidity around key pairs.
The platform’s Web3 discovery layer, Binance Alpha 2.0, processed more than $1 trillion in trading volume in 2025 and onboarded over 17 million users. According to the report, the platform distributed $782 million in rewards across 254 airdrops while risk tools blocked 270,000 participants attempting to exploit campaigns.
Binance described its liquidity advantage as “human liquidity,” noting that its platforms process almost ten times as many trades as the next-largest centralized exchange despite having a total volume about five times higher. This reflects participation from retail users, active traders, institutions, and builders.
Founded in 2017, Binance has become the world’s largest digital asset exchange by user base and trading activity. It operates an ecosystem that includes spot and derivatives markets, payment tools, custodial services, and Web3 infrastructure while emphasizing security, education, and regulatory cooperation.
