Binance solidified its position as the global leader in the cryptocurrency spot market throughout July 2025, capturing a staggering 39.8% of trading volume, reaching a record high of $698.3 billion. This surge reflects the platform’s continued success and is attributed to a combination of factors including robust growth in DeFi applications and increasing institutional involvement. The report highlights a shift towards decentralized exchanges (DEX) as Centralized Exchanges (CEX) saw trading volumes decline. Binance’s dominance was evident throughout July, with its trading volume surging by 61.4% compared to June, according to CoinGecko data. The rise of DeFi and institutional investments are believed to have been key drivers behind this trend.