Data: In 2025, the spot trading volume of the cryptocurrency market reached $18.6 trillion, and the perpetual contract trading volume reached $61.7 trillion.

CryptoQuant released its 2025 review of cryptocurrency exchange activity, indicating that spot trading volume reached $18.6 trillion (a 9% year-over-year increase), while perpetual contract trading volume surged to $61.7 trillion (a 29% year-over-year increase). Binance dominates in spot trading, Bitcoin perpetual contracts, liquidity, and reserves. Growth is driven by derivatives, and market power continues to concentrate in the hands of leading companies.