Binance Dominates Crypto Market with $4.24T in May Trades
The cryptocurrency market saw significant developments in May 2026, according to CoinMarketCap's latest exchange monthly report. The total volume across 11 tracked exchanges reached $4.24 trillion, a decline of approximately 5.8% from April.
Binance continued its dominance, widening its lead to a 38.57% market share. Derivatives trading outpaced spot by a factor of 5.43, with Binance leading both markets.
The combined proof-of-reserves (PoR) eased to $203.25 billion as reserve values cooled down. Binance reclaimed the deepest BTC order book from Coinbase, and exchange tokens staged a broad rally led by BNB, which rose by 15.15%.
The net on-chain capital flows across ten tracked exchanges turned positive in May, with $629 million of net inflows. However, this masks a sharp split between a handful of accumulators, led by Binance, and three venues that suffered capital outflows.