CoinGlass 2025 Crypto Derivatives Market Annual Report
Introduction
The year 2025 constitutes a distinct structural watershed in the evolutionary trajectory of the cryptocurrency market. During this year, crypto assets transitioned from a stage dominated by fringe experimentation to becoming further embedded within the mainstream financial system. This shift was marked by structural adjustments across market participant composition, the ecosystem of trading instruments, and the regulatory environment.
The derivatives market achieved significant expansion in 2025, with its market structure becoming notably more complex. The early single-driver model, characterized by high-leverage retail speculation, has been replaced by more diversified institutional trading demands, ushering the market into…
