Binance leads centralized exchanges with 39% market share as spot volume falls 27% to $1.9 trillion

In a market that’s about as stable as a three-legged chair, Binance continues to reign supreme among centralized exchanges. According to CoinGecko’s latest report, the crypto giant holds a hefty 38.7% of the market, even as spot trading volumes took a nosedive.

The second quarter of 2026 saw combined spot trading volumes drop to a mere $1.95 trillion. That’s a 27.9% decrease from Q1, which weighed in at $2.70 trillion. In English: people are trading a lot less crypto on centralized exchanges.

Binance Holds Strong

Despite spot volume tumbling, Binance held onto its crown. The exchange’s 39% market share paints a picture of dominance that could make even Genghis Khan jealous. Bybit trails with a 10% share, a distant second.

Other exchanges, like MEXC, weren’t so lucky. MEXC’s volume more than halved, dropping from $275.2 billion to $121.2 billion. That’s more than a paint job; that’s a total teardown and rebuild.