In the third quarter of 2025, Binance retained its leadership among centralized crypto exchanges (CEX) in terms of net capital inflows from users. This is stated in a report shared by the platform’s team with Incrypted.

According to the DeFiLlama analytical platform, the company received $14.8 billion in net investment, while the total net inflows of the next ten largest CEXs amounted to only $94 million.

Thus, Binance’s inflows were approximately 158 times higher than those of its ten closest competitors combined, a fact that underscores the exchange’s dominance as the primary source of new funds in the market, according to the crypto service’s representatives.

Analysts have identified several key drivers that explain this ratio, including the platform’s scale, comprehensive approach to regulatory compliance, investment in cybersecurity, product innovation, and deep liquidity.

Binance attracts the majority of capital — key factors

• Scale: According to the press release, Binance serves more than 290 million users worldwide and has traded assets worth about $125 trillion in 8 years. A large share of stablecoins on the exchange’s balance sheet — $31 billion in USDT and USDC — gives Binance an advantage in stablecoin transactions and serves as an important liquidity reserve for investors.
• Regulatory compliance: The exchange claims to have 22 regulatory permits and a large compliance team (22% of the staff, more than 1,280 specialists), as well as certifications and a 24/7 market monitoring system. This, according to institutional clients, increases the platform’s credibility and attractiveness.
• User protection: Binance supports the SAFU security fund of more than $1 billion and has reportedly helped prevent more than $10 billion in fraudulent transactions over the past 2.5 years, and has helped freeze and recover $230 million in stolen assets since 2022.
• Innovation: Binance Alpha programs and Web3 tools provide early access to new projects — 152 Alpha listings since launch, daily Alpha trading volume of about $3.8 billion, and more than $6.7 billion of distributed value through airdrops. With these products, the exchange attracts both retail and professional traders.
• Liquidity and accessibility: The platform supports more than 500 coins and 1500 pairs, has an order matching engine capable of processing 1.4 million orders per second, and the Earn and Binance Pay services have declared $5 billion and $230 billion in accumulated benefits/transactions, respectively.
• BNB rewards system: from January 2024 to September 2025, holding 1 BNB allegedly brought users more than $200 in additional rewards through various programs — this is also a factor in customer retention and attracting new ones.

The press release noted that the volume of capital inflows to Binance reflects not only short-term market activity but also the confidence of users and institutions in the exchange’s infrastructure.

The analysts noted that during periods of heightened volatility and corrections, large accumulations of stablecoins on exchanges often signal the readiness of market participants to react quickly, for example, to enter positions during downturns. In the case of Binance, the large share of this category of cryptocurrencies and the wide range of products provide both liquidity and tools for managing it.

At the same time, other exchanges in Q3 2025 generally recorded zero or negative net inflows, which further highlights the asymmetry in the redistribution of capital between the first platform and the rest of the market, the team noted.