PANews reported on December 25th that, according to a CoinGlass report, the trading volume of crypto derivatives is projected to reach $85.7 trillion in 2025, averaging $265 billion per day. Binance will account for 29.3% of the global trading volume, approximately $25.09 trillion, maintaining its leading position in the market. OKX, Bybit, and Bitget will contribute between $8.2 trillion and $10.8 trillion respectively, with the four major exchanges collectively accounting for 62.3% of the market share.
The report also points out that institutional participation is driving market structural transformation, but more complex leverage chains have increased risks. In October, the market saw $19 billion in liquidations triggered by the US announcement of 100% tariffs on Chinese imports, with long positions accounting for 85%-90%.


