Binance and rivals dominate crypto derivatives surge in 2025

Cryptocurrency derivatives trading reached nearly $85.7 trillion in 2025, cementing leveraged products as the core driver of digital asset market activity.

Average daily derivatives turnover stood at roughly $264.5 billion, far surpassing spot market volumes.

Binance retained its position as the world’s largest crypto derivatives venue throughout the year.

The exchange recorded approximately $25.09 trillion in cumulative derivatives volume.

CoinGlass data showed Binance accounted for about 29.3% of all global crypto derivatives trading.

OKX, Bybit and Bitget followed closely, each posting annual volumes between $8.2 trillion and $10.8 trillion.

Together, the four exchanges controlled roughly 62.3% of total global derivatives market share.

Analysts said the figures highlight how concentrated liquidity remains despite the growing number of platforms.

Derivatives continued to play a central role in price discovery across digital assets.

CoinGlass noted a structural shift in derivatives usage during 2025.

Earlier market cycles were dominated by retail traders chasing high leverage and short-term momentum.

In contrast, 2025 saw greater institutional participation using futures and options for hedging and basis trades.