Coinglass 2026 Q1 加密货币市场份额研究报告显示,Binance 仍继续巩固其作为加密市场核心基础设施的地位,行业领先优势同时体现在交易量、持仓规模、流动性深度与用户资产沉淀四个核心层面:现货成交量市场份额34.3%,衍生品成交量34.9%,衍生品持仓规模29.9%,BTC合约深度54.6%,用户资产规模73.5%,均位列第一,且相较第二名及第二梯队普遍呈现数倍乃至数量级差距。
值得注意的是,在市场整体交易量下滑、风险偏好尚未修复的背景下,流动性反而持续向 Binance 集中,其现货与衍生品市场份额小幅提升,反映出Binance在波动环境中具备更强的资金承接能力 。
另一重要趋势是,Binance 在流动性深度和用户资产沉淀维度的领先幅度远大于交易量维度:在用户资产规模上,第二名OKX规模仅为Binance的十分之一,而第三到五名之和仅为Binance的八分之一,意味着在交易活跃度之外,Binance的市场领先地位更体现在资金停留的长期偏好上,使其领先优势具备更强稳定性,难以在短期内被复制,构成更为稳固的护城河,强化“行业基础设施”的角色定位。但以CME为代表的合规机构渠道,和以 Hyperliquid 为代表的去中心化协议,可能在未来对当前竞争格局形成冲击。
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CoinGlass 2026 Q1 Cryptocurrency Market Share Research Report
One key takeaway from the Report:
Trading stayed active, but liquidity and capital became even more concentrated at the top.
Binance remained the clear leader in volume, OI, depth, and reserves, while Hyperliquid showed that on-chain derivatives are now part of the mainstream conversation.
Q1 was not about euphoria. It was about recovery, concentration, and shifting market structure.
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