Significant growth in futures trading volumes has been recorded on the cryptocurrency exchange Binance, surpassing the spot market figures by more than five times. According to analysts, the ratio between derivatives and the spot segment reached 5.1, marking the highest level since mid-2023.
This is reported by Business • Media
Trading Volume Dynamics on Binance
The analytical company CryptoQuant reported that in 2025, the total trading volume on Binance amounted to approximately $32.39 trillion. Of this amount, derivatives (including futures) accounted for $25.4 trillion, while the spot market accounted for $6.99 trillion.
Compared to 2024, the volume of futures trading increased from $21.21 trillion to $25.4 trillion, demonstrating a growth of 19.7%. At the same time, the figures for the spot market remained almost unchanged — around $6.99 trillion in both 2024 and 2025.
Main Reasons for the Increase in Ratio
Experts noted that the ratio indicator of futures and spot markets allows for an assessment of changes in the trading structure on the exchange. The two segments — derivatives and spot — can change independently of each other, which is why they are analyzed separately for accurate evaluation.
“The increase in the ratio is not primarily related to a decrease in activity in the spot market. Instead, it reflects a structural growth in derivatives trading: the volume of futures is significantly increasing, while the spot market remains almost unchanged,” the experts stated.
Thus, the current dominance of the futures segment on Binance is explained by a substantial increase in derivatives trading volumes amid stagnation in the traditional spot market.
Previously, CryptoQuant noted that the share of Bitcoin at a loss is approaching 45%.