Binance has once again proven its dominance in the centralized exchange (CEX) space after securing the largest net inflow of Q3 2025 with a whopping $14.8 billion.
According to CryptoQuant’s latest findings, this historic inflow was largely driven by strong stablecoin deposits as the exchange continues to reign as the leading liquidity hub in global crypto markets.
Binance Dominates Q3
When deposits exceed withdrawals, it signals positive netflows. CryptoQuant explained that this means that investors are channeling new funds into the exchange. Such an influx provides meaningful purchasing power ready to be deployed across both spot trading and derivatives markets. Often described as crypto’s “dry powder,” stablecoin accumulation on exchanges signals investor readiness to deploy funds into assets such as Bitcoin, Ethereum, BNB, and beyond.
On the other hand, competitors have been significantly behind Binance. For instance, OKX recorded just $1.61 billion and Bybit $1.33 billion in Q3 inflows, as per DeFiLlama’s data.
CryptoQuant stated,
“This broad appeal stems from Binance’s ability to attract both institutional and retail investors across multiple regions, cementing its position as the primary gateway for crypto capital. Conclusion: The record-breaking Q3 net inflow not only reinforces Binance’s leadership among CEXs but also signals growing momentum across the broader crypto ecosystem.”
Binance’s Lead in Spot Volume
As reported by CryptoPotato earlier, in the first half of 2025, Binance registered over 37% of global market share, which is equivalent to $3.44 trillion in traded volume. This overwhelming lead positioned the crypto exchange as the premier hub for Bitcoin liquidity, where major flow activity and whale trades often originate.
By comparison, competitors like Bybit, Crypto.com, Coinbase, and OKX collectively made up just 29%, while platforms such as Upbit, Bitget, and HuobiPro hovered near 5%. Meanwhile, other exchanges such as Kraken, KuCoin, and Gate.io contributed under 3%.
In mid-September, Binance’s spot trading volume briefly surpassed the combined volume of all other exchanges. The last time this phenomenon occurred was immediately after the launch of spot Bitcoin ETFs in 2024, when BTC skyrocketed from 40K to 73K in a short period of time.
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