Crypto Derivatives Surge Drives Exchange Volume To $79 Trillion In 2025

In 2025, global crypto exchange trading volume exceeded $79 trillion, primarily due to futures and perpetual contracts.

Spot trading grew by 9% to $18.6 trillion.
Futures and perpetuals reached nearly $62 trillion, accounting for about 77% of total exchange volume.
Binance was a major contributor, handling approximately $25.4 trillion in Bitcoin perpetual futures alone.
Other significant exchanges included OKX, Bybit, and Bitget.
Some platforms reported even higher derivatives figures, such as CoinGlass with $85.7 trillion, due to differences in data collection methods.
Futures trading is favored for enabling quick responses to price movements and notional flow multipliers.
Concerns remain regarding market concentration on a few exchanges, raising regulatory issues.

The derivatives market's dominance may persist unless spot demand increases significantly or regulations change trading incentives. Institutional interest and regulatory changes could impact future volumes.