CoinDesk Data released its 2025 Market Deep-Dive Report, a comprehensive analysis of exchange-level activity across the global digital asset market. Within this analysis, KuCoin emerged as a notable example of sustained performance, demonstrating strong trading volume growth, and resilient liquidity under complex and volatile market conditions. The findings illustrate how granular, exchange-level data can surface structural advantages — such as trading consistency and liquidity stability — that are not always visible through headline volume rankings or short-term market fluctuations.
Built on CoinDesk Data’s proprietary market data infrastructure, the report aggregates and normalizes data across thousands of trading pairs and dozens of centralized exchanges, providing a systematic view of trading volumes, market share, asset-level trading trends, asset stickiness, and liquidity dynamics.
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, cumulative spot and perpetual futures trading volume exceeded $1.25 trillion, with an average monthly volume of $114 billion.
Spot market activity averaged $46.1 billion per month, representing nearly a fourfold increase compared to 2023, reflecting a steady expansion in user participation and trading activity.
CoinDesk Data observed that KuCoin’s trading volumes followed a clear “stair-step” growth pattern, characterized by periods of sharp increases followed by sustained stability at higher levels. This pattern contrasts with the boom-and-bust cycles commonly observed in crypto markets and points to growing user stickiness, trading consistency, and platform maturity over time.
The report also highlights KuCoin’s liquidity performance following the October 10 market shock, a period during which liquidity conditions deteriorated across many centralized exchanges.
During this period, KuCoin’s order book depth for major altcoins remained broadly stable, placing it alongside Binance and OKX. CoinDesk Data identifies liquidity stability during periods of market stress as a key indicator of exchange robustness and trader confidence.
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 approach 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 in both trading volume growth and liquidity stability is underpinned by sustained investments in trust infrastructure.
In 2025, KuCoin launched and continued to advance its $2 billion Trust Project, focused on strengthening transparency, security architecture, and compliance capabilities. Over the course of the year, the exchange also achieved multiple security certification milestones and reached important regulatory compliance milestones, reinforcing its ability to operate under defined oversight frameworks across key jurisdictions.
