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2025 Cryptocurrency Market Differentiation: Spot Trading Growth Plummets, Perpetual Contracts Buck the Trend with 29% Increase
Summary: According to reports, the total cryptocurrency spot trading volume in 2025 reached $18.6 trillion, a year-on-year increase of 9%, significantly slower than the 154% growth rate in 2024. Perpetual contracts, on the other hand, maintained strong growth, increasing by 29% to $61.7 trillion, adding $13.8 trillion. Binance continues to dominate the market, with a spot ...
According to reports, the total cryptocurrency spot trading volume in 2025 reached $18.6 trillion, a year-on-year increase of 9%, significantly slower than the 154% growth rate in 2024. Perpetual contracts, on the other hand, maintained strong growth, increasing by 29% to $61.7 trillion, adding $13.8 trillion.
Binance continues to dominate the market, with a spot trading volume of nearly $7 trillion, accounting for 41% of the top ten exchanges; Bitcoin perpetual contracts reached $25.4 trillion, accounting for 42%. Bybit, MEXC, and Crypto.com each have spot trading volumes of around $1.3-1.5 trillion. OKX, Bybit, and Bitget form the second tier in the perpetual contracts market.
Stablecoin reserves are highly concentrated, with Binance holding $47.6 billion in USDT and USDC (accounting for 72% of the top ten). In terms of total reserves, Binance leads with $117 billion (31.8%), followed closely by Coinbase with $81 billion (22.1%).
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Link: 2025 Cryptocurrency Market Differentiation: Spot Trading Growth Plummets, Perpetual Contracts Buck the Trend with 29% Increase [Copy]
