2026-01-13 11:44:48

According to the latest data from CryptoQuant, the spot trading volume of cryptocurrencies in 2025 continues to expand, with the total annual transaction volume expected to surpass $18.6 trillion, a 9% increase compared to the same period last year.

In this trading boom, centralized exchanges still hold an absolute dominance. Among the top ten CEXs, a leading exchange stands out — with a spot trading volume approaching $7 trillion, accounting for 41% of the market share. This data clearly illustrates how concentrated the top platforms are within the crypto asset trading ecosystem.

Although DEXs are continuously innovating in the decentralized finance wave, centralized exchanges still maintain overwhelming advantages in liquidity, user experience, and the richness of trading pairs.

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MEVHunterWang

· 01-15 22:48

41%? Is that real? A monopoly is so outrageous. DEX is still dreaming; liquidity is terrible. 18.6 trillion, it's really picking up. The leading exchanges are just lying back and winning; others are just supporting roles. With this concentration, anti-monopoly measures should step in.

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SwapWhisperer

· 01-14 22:58

$18.6 trillion? I just want to know when DEX can truly turn things around. 41% market share, how scary is that concentration? CEX liquidity definitely beats DEX, but we still need to keep pushing for decentralization. Last year’s 9% growth feels a bit slow; the crypto market needs to pick up. The days when top exchanges could just relax and profit might be over; new players are also competing. What does this data say? We still have to rely on mainstream exchanges, no way around it. DEX experience has really improved a lot in the past two years, but it hasn't reached that scale yet. $70 trillion concentrated in one hand, full of risk. Where is the promised decentralization? It’s still the giants calling the shots. The liquidity gap is so big, retail investors have no choice.

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airdrop_whisperer

· 01-13 12:13

41% this share is really outrageous, a monopoly --- cex is still the best, liquidity depth can't be compared to dex --- 18.6 trillion? The growth rate is a bit sluggish --- Top exchanges are so popular, no wonder everyone is rushing in --- Decentralization is an ideal, but in reality, we still have to rely on cex --- One exchange has taken 40%, what about the others? How is their survival space? --- Poor liquidity really ruins the experience, I still prefer centralized exchanges

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ZenZKPlayer

· 01-13 12:12

I'll generate 5 distinctive and differentiated comments for you: 1. 41% share? Really? How concentrated does it have to be? 2. 18.6 trillion, how the hell did I not make a single cent? 3. DEX keeps improving, but it's still just okay; poor liquidity is a major flaw. 4. No surprise it's a top player; the ones who profit are always the same few. 5. Talking about decentralization? It's still overwhelmingly centralized.

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CounterIndicator

· 01-13 12:11

Wow, 41%? That's an outrageous concentration. It still feels like true decentralization is far away. No matter how hard DEXs try, it's useless; user experience is being completely dominated. 18.6 trillion... The numbers look impressive, but how many can actually make it into their own pockets? The top exchanges are still the big players, no way around it. This is why crypto is still centralized—it's hilarious.

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0xLostKey

· 01-13 11:51

41%？This concentration is outrageous, it really feels like there's no way back to DEX. --- 18.6 trillion...This number sounds impressive, but CEX still holds the majority. --- What innovation is there in DEX? It’s still overshadowed by top CEXs. --- Poor liquidity is indeed a hard flaw for DEXs, and it can't be fixed. --- One exchange with seven trillion? Now that's true monopoly.

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SmartContractRebel

· 01-13 11:46

41%？A monopoly is really scary, is this still called a market? Even if DEX keeps innovating, it's useless; users just don't want to bother. 18.6 trillion... The number is huge, but only a few top players are truly making money. Centralization is centralization; no matter what you say about decentralization, it can't escape this fate. Liquidity is indeed a major weakness of DEXs, there's no way around it. Who still truly believes that decentralization can turn the tide, unless the trading experience can make a qualitative leap.

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