According to data released by CryptoQuant, as reported by ChainCatcher, the total spot trading volume of cryptocurrencies (CEX and DEX) in 2025 will reach $18.6 trillion, a 9% increase from $17 trillion in 2024; the total trading volume of perpetual futures will reach $61.7 trillion by the end of the year, a year-on-year increase of 29%.
In terms of exchanges, Binance's spot trading volume this year is close to $7 trillion, accounting for 41% of the spot trading volume of the top ten centralized exchanges; Bybit, MEXC and Crypto.com follow closely behind, with trading volumes of approximately $1.5 trillion, $1.4 trillion and $1.3 trillion, respectively.
Furthermore, in 2025, Binance's Bitcoin perpetual futures trading volume reached $25.4 trillion, accounting for 42% of the trading volume of the top ten exchanges; OKX, Bybit, and Bitget accounted for 11% to 19% of the total trading volume, respectively; Hyperliquid accounted for 3.7%; and all other platforms, including Coinbase, accounted for approximately 10% in total.
