Top 10 Crypto Exchanges Spot Volumes Rise 15% in May 2025
Fazzaco has compiled the performance of the top 10 crypto exchanges based on spot trading volume data for May 2025. Overall, the total spot trading volume for these ten exchanges increased by approximately 15% in May compared to April. Most exchanges saw positive momentum, with notable gains at Bybit, HTX, and OKX. Only Coinbase, Upbit, and LMAX Digital recorded a decline.
Detailed data is as follows:
The world's largest cryptocurrency exchange, Binance, reported a spot trading volume of US$551.2 billion in May, up 14.10% from US$483.08 billion in April.
The Dubai-based exchange Bybit saw a strong increase to US$110.32 billion in May, up 29.06% from US$85.48 billion in April, marking the highest percentage gain this month.
OKX posted a spot volume of US$108.58 billion in May, a 20.99% rise from US$89.74 billion in April.
HTX recorded a remarkable increase to US$107.06 billion in May, up 54.20% from US$69.43 billion in April.
Leading US exchange Coinbase had a spot trading volume of US$84.56 billion in May, down 5.61% from US$89.59 billion in April, making it one of the few exchanges to decline.
South Korea's Upbit saw its spot volume decrease to US$75.56 billion in May, a 7.80% drop from US$81.95 billion in April.
Gate.io, headquartered in the Cayman Islands, saw a moderate increase in spot volume to US$60.77 billion in May, up 5.93% from US$57.37 billion in April.
Offshore-regulated Kucoin had a spot volume of US$40.86 billion in May, a solid 24.50% increase from April's US$32.82 billion.
Kraken reported a spot volume of US$35.44 billion in May, up 5.85% from US$33.48 billion in April.
UK FCA-regulated LMAX Digital had a spot volume of US$6.98 billion in May, a slight 2.92% decrease from US$7.19 billion in April, marking the smallest volume among the ten.
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