CryptoQuant’s Annual Exchange Leader Report is live 🏆
Overall Leaders:
• MEXC
• Binance
• Bybit
But the rankings are just the starting point.
Here are the key insights👇
1️⃣ Spot Market
Binance dominates spot with $7.0T in trading volume, the highest in the industry.
Growth leader: MEXC (+90% YoY) in spot volume.
2️⃣ Derivatives Market
Binance leads with $25T in perpetual futures volume (+20% YoY).
Growth standout: Gate (+468% in perps volume).
3️⃣ Derivatives Volume Mix
Bitget ranks among the most Bitcoin-dominant derivatives venues, alongside Coinbase and Crypto dot com — highlighting distinct product strategies across exchanges.
4️⃣ Transparency & Proof of Reserves
Top performer:
• KuCoin — 96.7 (A+)
Transparency standards vary meaningfully across exchanges.
5️⃣ CeFi Lending
Tether dominates with a ~$17B loan book.
Second tier: Maple, Galaxy & Nexo (~$1.7–2.0B each).
That’s the headline view.
The full report goes much deeper into liquidity concentration, leverage exposure, and exchange risk.
👉 Read it here.
@cryptoquant_official
Overall Leaders:
• MEXC
• Binance
• Bybit
But the rankings are just the starting point.
Here are the key insights
Binance dominates spot with $7.0T in trading volume, the highest in the industry.
Growth leader: MEXC (+90% YoY) in spot volume.
Binance leads with $25T in perpetual futures volume (+20% YoY).
Growth standout: Gate (+468% in perps volume).
Bitget ranks among the most Bitcoin-dominant derivatives venues, alongside Coinbase and Crypto dot com — highlighting distinct product strategies across exchanges.
Top performer:
• KuCoin — 96.7 (A+)
Transparency standards vary meaningfully across exchanges.
Tether dominates with a ~$17B loan book.
Second tier: Maple, Galaxy & Nexo (~$1.7–2.0B each).
That’s the headline view.
The full report goes much deeper into liquidity concentration, leverage exposure, and exchange risk.
@cryptoquant_official
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Bitcoin Shows Relative Strength
“Although global instability and the bear market are expected to persist, the low volume of deposits into exchanges validates the exhaustion of selling pressure in Bitcoin.” – Read More
By GugaOnChain | @cryptoquant_official
“Although global instability and the bear market are expected to persist, the low volume of deposits into exchanges validates the exhaustion of selling pressure in Bitcoin.” – Read More
By GugaOnChain | @cryptoquant_official
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Bitcoin’s Rebound After a Geopolitical Shock
“Overall, the rebound toward $73,000 appears largely driven by ETF inflows and derivatives-driven short covering.” – Read More
By XWIN Research Japan | @cryptoquant_official
“Overall, the rebound toward $73,000 appears largely driven by ETF inflows and derivatives-driven short covering.” – Read More
By XWIN Research Japan | @cryptoquant_official
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Not all Proof-of-Reserves are equal.
KuCoin ranks #1 in CryptoQuant’s PoR Transparency Score (96.7, A+), backed by public wallets, monthly Merkle-tree reports, and third-party attestations.
A benchmark for exchange transparency.
👉 Read it here.
@cryptoquant_official
KuCoin ranks #1 in CryptoQuant’s PoR Transparency Score (96.7, A+), backed by public wallets, monthly Merkle-tree reports, and third-party attestations.
A benchmark for exchange transparency.
@cryptoquant_official
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AI agents need data. Now they can access on-chain analytics directly.
We just launched our MCP Server (beta), enabling AI tools and agents to query real-time blockchain data through a standardized interface.
This means developers can plug CryptoQuant data directly into AI workflows for research, trading models, and automated analysis.
👉 Get started here.
@cryptoquant_official
We just launched our MCP Server (beta), enabling AI tools and agents to query real-time blockchain data through a standardized interface.
This means developers can plug CryptoQuant data directly into AI workflows for research, trading models, and automated analysis.
@cryptoquant_official
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Gate ranked #1 in exchange growth in 2025.
Gate’s total trading volume grew 209% YoY, the highest among major exchanges, followed by Coinbase (127%) and MEXC (89%).
In absolute terms, MEXC ($4.91T), Binance ($4.18T), and Gate ($3.89T) captured the largest increases in trading activity—driven mainly by perpetual futures.
👉 Read the full report.
@cryptoquant_official
Gate’s total trading volume grew 209% YoY, the highest among major exchanges, followed by Coinbase (127%) and MEXC (89%).
In absolute terms, MEXC ($4.91T), Binance ($4.18T), and Gate ($3.89T) captured the largest increases in trading activity—driven mainly by perpetual futures.
@cryptoquant_official
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Bitcoin is still in a bear market despite the recent rally.
Our Bull Score Index remains at 10/100, deep in bearish territory.
The current move is likely just a relief rally, not the start of a new bull phase.
👉 Dive into the breakdown.
@cryptoquant_official
Our Bull Score Index remains at 10/100, deep in bearish territory.
The current move is likely just a relief rally, not the start of a new bull phase.
@cryptoquant_official
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TradFi is moving onto crypto exchanges.
Binance’s TradFi perpetual futures surpassed $130B in volume and 90M trades just months after launch.
Gold and silver dominate activity as traders use crypto platforms to trade traditional assets 24/7.
👉 See the data.
@cryptoquant_official
Binance’s TradFi perpetual futures surpassed $130B in volume and 90M trades just months after launch.
Gold and silver dominate activity as traders use crypto platforms to trade traditional assets 24/7.
@cryptoquant_official
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Bitget is one of the most derivatives-driven exchanges in the market.
Around 90% of Bitget’s trading volume comes from perpetual futures, placing it alongside MEXC (87%), and Bybit (86%) as one of the most derivative-focused trading venues.
Bitget recorded $8.0T in derivatives trading volume last year.
👉 Full report.
@cryptoquant_official
Around 90% of Bitget’s trading volume comes from perpetual futures, placing it alongside MEXC (87%), and Bybit (86%) as one of the most derivative-focused trading venues.
Bitget recorded $8.0T in derivatives trading volume last year.
@cryptoquant_official
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Nexo is among the leading CeFi lenders, with a ~$1.7B loan book representing 7.1% of total outstanding balances.
👉 Read the full report.
@cryptoquant_official
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Oil Prices Surge Amid Hormuz Tensions: Implications for BTC and Markets
“Historically, periods when oil prices regain strength often coincide with BTC end-of-cycle phases.” – Read More
By Darkfost | @cryptoquant_official
“Historically, periods when oil prices regain strength often coincide with BTC end-of-cycle phases.” – Read More
By Darkfost | @cryptoquant_official
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Funding Rate 30D Percentile at 6%. The Lowest Reading Since Early 2023.
“The 30-day percentile ranks today's funding rate against the last 30 days of readings. At 6%, almost every single day in the past month had higher funding than right now.” – Read More
By RugaResearch | @cryptoquant_official
“The 30-day percentile ranks today's funding rate against the last 30 days of readings. At 6%, almost every single day in the past month had higher funding than right now.” – Read More
By RugaResearch | @cryptoquant_official
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