Crypto Derivatives Surge to $1.2 Trillion as Perpetual Futures Dominate 2025 Trading
The cryptocurrency derivatives market exploded in 2025, with perpetual futures leading the charge as monthly volumes crossed $1.2 trillion. Decentralized exchanges like Hyperliquid captured significant market share, proving deep liquidity and execution no longer belong exclusively to centralized platforms.
Perpetual contracts became the tool of choice for traders seeking leverage amid stagnant altcoin spot markets. The ability to trade around the clock with minimal capital—but maximum risk—drove speculative exposure to 10% of total market value before October's liquidation cascade halved that figure.
What began as a Leveraged trading mechanism has evolved into foundational DeFi infrastructure. The derivatives boom reflects a maturing market where institutional participation and sophisticated instruments increasingly set the tempo.
