According to @OnchainDataNerd, Binance leads the reported 2025 figures at $133B, followed by HTX at $38B, Bybit at $35B, and MEXC at $34B, source: @OnchainDataNerd on X (Aug 21, 2025). The source states this leadership confirms Binance as the top destination for traders seeking early access and high liquidity, source: @OnchainDataNerd on X (Aug 21, 2025).