#cryptonews
Centralized crypto exchanges saw a surge in activity in 2024, processing $18.83 trillion in spot trading volume—more than doubling 2023’s total of $8.05 trillion.
Despite this growth, trading volume remained below the all-time high of $25.21 trillion set in 2021, according to CoinGecko data.
Crypto.com recorded the highest growth among exchanges, with trading volume increasing 970% from $120.6 billion in 2023 to $1.29 trillion in 2024. Bybit and Gate.io also saw major expansion, with increases of 398% and 242%, respectively.
Binance retained its position as the leading crypto exchange in 2024, capturing nearly 40% of the total market with $7.35 trillion in trading volume. Bybit followed in second place with a 9.3% share.
The report ranked the top 15 centralized exchanges by trading volume, listing Binance, Bybit, Crypto.com, Upbit, OKX, Coinbase, Gate.io, HTX, MEXC, Bitget, KuCoin, Bithumb, Kraken, BingX, and Bitfinex as major market participants.
CoinGecko’s data tracks market trends from 2020 to 2024. The highest activity occurred in 2021, when spot trades surged 566.8% from $3.78 trillion in 2020 to $25.21 trillion.
Meanwhile, Binance led the market with $21.6 billion in customer deposits in 2024, exceeding the total inflows of the next 10 largest exchanges combined. The platform also recorded an all-time high of 250 million global users.
Crypto.com reported that its daily trading volume surpassed Coinbase, reaching $3.16 billion in August 2024.
Other leading platforms include BitMEX ($3.45 billion), Robinhood ($3.165 billion), and HTX ($2.12 billion).
Beyond exchange trading volume, Bitcoin transactions alone accounted for over $19 trillion in 2024, according to a separate report by Pierre Rochard, vice president of research at Riot Platforms.
According to DeFiLlama, Bybit ranks as the second-largest recipient of customer deposits, with $8.2 billion, followed by OKX with $5.3 billion.