Centralized exchanges demonstrated robust activity in October, with Gate Exchange posting the highest month-on-month growth, although Binance retained its leadership in total trading volume. According to a Cryptorank report, the overall spot volume across centralized exchanges surged by 33%, rising from $1.82 trillion in September to $2.42 trillion in October.
Gate's growth was fueled by its Gate Layer ecosystem, launchpads, launchpools, and perpetual futures trading. The exchange achieved over $159 million in spot volume, marking a 31% monthly increase and capturing a 6.57% market share. Notably, Gate launched 35 new launchpools in September and October, distributing $3.3 million in rewards to users, far outpacing competitors like Bitget (8 launchpools), Bybit (6), and Binance (1).
Binance recorded a 29% spot volume growth, while KuCoin saw an impressive 218% surge following promotional campaigns and new product introductions. Other exchanges, including OKX, HTX, and Crypto.com, also experienced renewed activity. In derivatives trading, leadership was shared among Binance, OKX, and Bybit.
The competition extended to blockchain ecosystems, with BNB Chain delivering the strongest performance, while Mantle (supported by Bybit) and Gate Layer—an L2 chain built on the OP Stack—gained significant adoption. This growth underscores the effectiveness of crowdfunding and token sales mechanisms within centralized exchanges, combining economic incentives and reliable liquidity.
