The competitive landscape of cryptocurrency exchanges in 2025 has basically taken shape. According to the latest industry report, the market share of leading CEXs varies significantly. Among them, Binance still maintains an absolute leading position, accounting for 35.86% of the market share, far ahead of other platforms. The second-ranked OKX has a market share of 13.47%, followed by Bybit at 12.04%, and Bitget at 10.60%, ranking fourth. The top four exchanges collectively control over 70% of the market share, indicating a high market concentration. From the data, the gap between Binance and other top exchanges continues to widen, showing a clear trend of market segmentation.