By Isaac • July 30, 2026 9:44 am •
Binance is smaller than it was at the peak of its power.
It is also still far ahead of every other centralized crypto exchange.
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Those facts can coexist because market share tells only part of the story.
A new CoinDesk Research report puts Binance at 25.9% of global spot trading as of May 2026, down from a remarkable 67.0% peak in February 2023.
That looks like a collapse until the next comparison arrives.
Binance still processed nearly four times the spot volume of its closest centralized rival.
Its bigger advantage appears deeper in the order book.
RESEARCH: Binance remained the largest spot venue in 2026 at 25.9% market share as of May, with more than
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