Binance’s Crypto Grip Tightens: $85.7T Derivatives & Chaos! 😏

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Centralized exchanges (CEXs) ruled the crypto world like a boss, dominating global crypto derivatives activity like it was a high school cafeteria. Total trading volume hit $85.7 trillion-because nothing says “I’m in control” like a number so big it makes your calculator cry. 🤯

CoinGlass said the global derivatives market has “solidified into a stratified oligopolistic landscape.” Oh, great, now it’s a reality show. Who’s the villain? Binance, obviously. 🎬

Crypto Derivatives Trading in 2025

According to CoinGlass’ 2025 Crypto Derivatives Market Annual Report, derivatives continued to serve as the main venue for price discovery and risk management. Peak activity? October 10, when single-day volume surged to $748 billion. Because nothing says “I’m a financial giant” like a number that could fund a small country. 💸

Market share? Highly concentrated. Binance led by a wide margin, grabbing 29% of the crypto throne. OKX, Bybit, and Bitget followed, but they’re basically the backup dancers in this crypto concert. Together, they controlled over 62% of the action. 🎶

Beyond the top tier, the rest were like the unpopular kids at the crypto party, with barely any liquidity. Open Interest (OI) was all over the place, like a toddler with a sugar rush. 🧨

Despite the chaos, CoinGlass found that year-end OI still rose 17% from the start. Binance? Still the king of leverage, holding 28% of daily average OI. The top five exchanges controlled 80% of the throne. Monopoly? More like a monarchy. 👑

Liquidity, Custody, and Risk

Liquidity depth data validated Binance’s dominance. Its BTC order book was so deep, it could swallow a whale (or a small country). OKX was second, but they’re basically the runner-up in a competition where the prize is “not getting liquidated.” 🐋

Binance held over 72% of custodial assets, with an HHI score so high, it’s basically a crypto oligopoly. OKX was second, while the rest? They’re the ones trying to catch a wave on a tiny surfboard. 🏄‍♂️

Liquidations hit $150 billion, mostly routine, but the October 10-11 event was a crypto apocalypse. $19 billion in combined liquidations? Because nothing says “I’m a financial disaster” like a single day of chaos. 🌍

While BTC and ETH suffered moderate drawdowns, many smaller assets collapsed. Because in crypto, the rich get richer, and the altcoins? They’re just sad. 😢

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2025-12-28 07:52