Binance holds 94% of the Airdrop market share, driving user participation and dominance.

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Binance remains firmly positioned as the undisputed leader among centralized cryptocurrency exchanges in 2025. This is the only major platform that has not delisted any tokens listed during the period from January 1, 2023, to December 31, 2024.

According to a report by CryptoQuant, this reflects a "strict" listing strategy and stability in the operations of the exchange.

Binance leads in listing quality and reward distribution

The latest figures show that Binance has distributed over $2.6 billion through airdrop events just in 2024. As a result, this exchange has captured over 94% market share in the rewards segment. Programs like Launchpool and Megadrop have attracted millions of participants, thereby enhancing user engagement and solidifying their position in the token rewards space.

Binance holds 94% of the Airdrop market share, driving user participation and dominance

As of June 2025, Binance continues to maintain this growth momentum, and forecasts indicate they will continue to lead in listing quality and reward distribution. For investors, these indicators affirm that Binance is a stable and reliable exchange to participate in cryptocurrency markets.

This dominance also extends to liquidity indicators across major cryptocurrencies.

Binance leads in Bitcoin liquidity

CoinGecko recently reported that Binance is currently leading in Bitcoin liquidity across all levels of depth, holding about 8 million dollars in depth on both sides within a +/- 100 dollar range, surpassing Bitget and OKX. Binance accounts for approximately 32% of BTC liquidity among the top exchanges.

In particular, within a narrower range of +/- 10 dollars, Binance is the only platform with over 1 million dollars in liquidity on each side. In the Ethereum liquidity space, Bitget has surpassed Binance within a range of +/- 2 dollars, but Binance has regained its dominant position at wider depths, maintaining 25% liquidity market share, compared to 32% in BTC. For XRP, Binance, Bitget, and Coinbase together control 67% of liquidity within a range of +/- 0.02 dollars.

For the Solana market, this exchange holds about 20% of the liquidity market share within +/- 1 dollar, while the liquidity of Dogecoin on Binance remains balanced with Bitget, OKX, and Coinbase.

Additionally, CryptoQuant has also reported that Binance has emerged as a leader in the transparency of proof of reserves (PoR) among major cryptocurrency exchanges, as they maintain a reserve ratio consistently above 100% and publish timely monthly PoR reports.

OKX closely follows behind by maintaining full capital support and publishing monthly reports. In contrast, Coinbase sits at the bottom due to not publishing any PoR reports despite having a large market size.

Mr. Giáo

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