Binance ranked first in both spot and derivatives trading volume during the first quarter of 2026, according to a CoinGlass market share report released on April 1. The report found that Binance maintained a stable market share throughout the quarter, with particularly strong leadership in derivatives trading.
The findings highlight Binance’s continued dominance among cryptocurrency exchanges, as it accounted for a significant portion of global trading activity. CoinGlass reports that total cryptocurrency trading volume reached about $20.57 trillion in Q1 2026, including roughly $1.94 trillion in spot trading and $18.63 trillion in derivatives. The derivatives-to-spot ratio held near 9.6x throughout the quarter, showing activity remained heavily focused on hedging, leverage and short-term positioning rather than spot buying amid a cautious macro environment.
The report also found that Binance generated about $639.9 billion in Q1 spot volume, accounting for roughly 34.3% of activity among the top 10 exchanges, with average daily spot volume near $7.19 billion. Its market share remained relatively steady—at 34.0% in January, 33.7% in February and 35.4% in March—even as total spot volume fell 23% over the period, indicating continued concentration of liquidity on leading platforms.
In derivatives markets, Binance recorded about $4.90 trillion in Q1 volume with average daily turnover around $55.0 billion and a 34.9% share among the top ten exchanges—a figure that exceeded the combined derivatives volumes of second-ranked OKX at $2.19 trillion and third-ranked Bybit at $1.49 trillion, according to CoinGlass.
Binance reached 300 million registered users in December 2025 and was processing more than $20 billion in daily spot volume across 1,630 trading pairs, according to Kaiko Research. The scale of its user base, product range and trading activity helps explain its role in market structure—including execution, liquidity concentration and trading volume across both spot and derivatives markets.
CoinGlass is a crypto market data platform that tracks derivatives, options, spot markets, order flow, liquidity, order book depth, liquidation heatmaps and exchange analytics for digital asset market participants.
