Cryptocurrency derivatives trading explodes, reaching nearly $86 trillion by 2025

2025-12-26 01:36:19

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In the cryptocurrency market, spot trading indicates where prices are, while derivatives explain why prices fluctuate. By 2025, this difference will become decisive. Leverage tools such as futures, options, and perpetual contracts have become the core liquidity drivers, influencing Bitcoin’s price movements and the entire digital asset market.

Throughout the year, derivatives trading volume reached unprecedented levels. A total notional value of nearly $86 trillion USD indicates a structural shift, not a short-term phenomenon. Leveraged products are gradually replacing the spot market in risk representation, hedging, and capital allocation.

Trading activity is increasingly concentrated on a few major exchanges, while institutional capital expands through futures and tightly regulated ETFs. This increased sophistication enhances efficiency but also exposes vulnerabilities, as high leverage makes the market more sensitive to liquidation cascades.

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