CoinDesk Data has released its comprehensive 2025 Market Deep-Dive Report, analyzing exchange-level activity across the global digital asset market. The report identifies KuCoin as a standout performer, demonstrating sustained trading volume growth and resilient liquidity even during complex and volatile market conditions.
According to the report, KuCoin firmly consolidated its position among the global top 10 centralized exchanges (Top 10 CEX) in 2025. Over the first eleven months of the year, the exchange's cumulative spot and perpetual futures trading volume exceeded $1.25 trillion, with an average monthly volume of $114 billion. Spot market activity alone averaged $46.1 billion per month, representing a nearly fourfold increase compared to 2023.
CoinDesk Data observed that KuCoin's trading volumes followed a distinct "stair-step" growth pattern, characterized by sharp increases followed by sustained stability at higher levels. This pattern contrasts with typical crypto market boom-and-bust cycles and indicates growing user stickiness, trading consistency, and platform maturity.
The report specifically highlights KuCoin's liquidity performance following the October 10 market shock, a period when liquidity conditions deteriorated across many centralized exchanges. During this stress period, KuCoin's order book depth for major altcoins remained broadly stable, placing it alongside industry giants Binance and OKX in terms of liquidity resilience.
Throughout 2025, KuCoin maintained a new-asset listing pace consistently above the global industry average, reaching approximately two times the market norm during peak activity periods. This aggressive listing strategy has strengthened KuCoin's role as an early venue for price discovery in emerging assets and sectors, reinforcing its positioning within the altcoin trading ecosystem.
CoinDesk Data's analysis suggests that KuCoin's performance is underpinned by sustained investments in trust infrastructure. In 2025, the exchange launched and advanced its $2 billion Trust Project, focused on strengthening transparency, security architecture, and compliance capabilities. The exchange also achieved multiple security certification milestones (including SOC 2 Type II and ISO 27001:2022 Certifications) and reached important regulatory compliance milestones, including AUSTRAC registration in Australia and a MiCA license in Austria.
