In June 2025, there was a significant decline in spot trading volume on centralized cryptocurrency exchanges (CEX), with the figure reaching only $1.07 trillion. This is the lowest level in the past nine months, indicating a decrease in market activity.
This is reported by Finway
Key Trends in the Centralized and Decentralized Exchange Market
In comparison, the spot trading volume on CEX in May was $1.47 trillion, while the historical peak was recorded in December 2024 at $2.94 trillion. Thus, the June result in 2025 was 63.6% lower than this record.
The market leaders remain Binance (with $436.24 billion), Huobi ($91.27 billion), and ByBit ($81.99 billion). Throughout the month, their market shares noticeably shrank, with ByBit dropping from second to third place, yielding its position to Huobi. Bitget, in turn, moved up to the fourth position in trading volume.
Growth of DEX Share and Market Drivers
In a comment from Presto Research analyst Min Jung, it was noted that the decline in volumes on CEX is attributed to the caution of retail traders.
“The current market movement is focused on institutional inflows into Bitcoin, while altcoins are experiencing stagnation and are far from their peaks.”
At the same time, activity on decentralized exchanges (DEX) in June remained nearly at the level of the previous month — $390.76 billion compared to $402.12 billion in May, according to DeFiLlama.
The share of DEX in the total spot trading volume reached 29.65% in June 2025, demonstrating a trend towards increasing popularity of decentralized platforms among traders.
According to Min Jung’s estimates, the growth of the DEX share is linked to increased activity on the Hyperliquid platform, as well as traders’ participation in token giveaways. This indicates a gradual shift in market preferences towards decentralized solutions.