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ZEC $260.31 -8.86%
BTC $64,120.88 -0.91%
ETH $1,859.22 -0.12%
BNB $585.49 -1.96%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $484.28 -3.34%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

coinglass

Data: In 2025, the trading volume of cryptocurrency derivatives will reach $85.7 trillion, with Binance accounting for nearly 30%

CoinGlass released a report indicating that the trading volume of cryptocurrency derivatives will reach approximately $85.7 trillion in 2025, with an average daily trading volume of about $264.5 billion. Binance leads the market with a cumulative derivatives trading volume of about $25.09 trillion, accounting for 29.3% of the global trading volume. OKX, Bybit, and Bitget follow closely, with annual trading volumes ranging between $8.2 trillion and $10.8 trillion. These four exchanges together hold approximately 62.3% of the market share.The report shows that in 2025, the derivatives market will shift from a retail-driven high-leverage model to institutional hedging, basis trading, and ETFs. Nevertheless, the deepening leverage chain has increased tail risks. In 2025, the global cryptocurrency derivatives open interest fell to an annual low of about $87 billion after deleveraging in the first quarter, and then reached a historical high of $235.9 billion on October 7. A flash deleveraging event at the beginning of the fourth quarter wiped out over $70 billion in open interest, accounting for about one-third of the total open interest. By the end of the year, the open interest stood at $145.1 billion, an increase of 17% from the beginning of the year. The total amount of forced liquidations in 2025 is approximately $150 billion, with over $19 billion liquidated during the period from October 10 to 11, of which 85% to 90% came from long positions.
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