- Binance dominated the spot volume, but Gate.io and OKX led in BTC readings due to liquidity.
- High liquidity drives faster, so that smaller exchanges make the surprising leaders in liquidation activity.
In a year characterized by the shifting of tides and institutional revival, Binance makes movements. This time the spot handle volume is ready to darken that of all other crypto fairs together!
Although that could suggest the total dominance, 2025 has delivered a turn: Binance is not Management of the graphs in traders liquidations.
According to Joao Wedson, CEO of Alfractal, the answer lies in something that many overlook, but few can afford to ignore – liquidity.
Binance’s Spot VolumeGolf shows institutional strength
After months of modest competition, the binance spot handle volume surpasses all other stock exchanges … and not with a small margin.
According to Wedson, the graph below Show how Binance is approaching a historical crossover: his BTC Spot -Volume -Delta is about to play positively against the combined total of its competitors.
Source: Cryptuquant
This reflects a similar pattern that can be seen at the beginning of 2024 after the launch of the Bitcoin ETF, when institutional appetite caused a huge influx into Binance.
At the time, this volume line preceded a large rally in the price of Bitcoin; A scenario that seems to be repeated in 2025.