Overview
- CoinGlass tallied roughly $85.7–$86 trillion in 2025 derivatives volume with average daily turnover near $264–265 billion.
- Total forced liquidations were estimated at about $150 billion, including more than $19 billion over two days in October that CoinGlass links to President Trump’s China tariff announcement.
- Binance processed $25.09 trillion, or about 29.3% of volume, as the top four exchanges reached roughly 62.3% market share.
- CME consolidated leadership in Bitcoin futures open interest and narrowed the gap in Ethereum derivatives as institutions favored regulated venues for hedging and basis trades.
- Spot Bitcoin ETFs recorded about $25 billion in 2025 net inflows as reported, aligning with evidence of reduced retail activity and long‑term holder supply being absorbed by institutional vehicles.