In 2026, the futures trading volume on the cryptocurrency exchange Binance reached record levels, surpassing the spot market by more than five times. According to the analytical company CryptoQuant, the ratio of futures trading to spot transactions on the platform rose to 5.1, the highest level since mid-2023.
This is reported by Finway
Volume Dynamics and Trading Structure
In 2025, the total trading volume on Binance amounted to approximately $32.39 trillion. Of this amount, the derivatives volume, which includes futures, reached $25.4 trillion, while the spot market remained at $6.99 trillion. Compared to 2024, the volume of futures transactions increased from $21.21 trillion to $25.4 trillion, demonstrating a growth of 19.7%. At the same time, the spot market changed little during this period, maintaining a volume of $6.99 trillion.
Reasons for Such Growth
Analysts explain that the increase in the ratio is primarily related to the rise in derivatives trading amid stagnation in the spot market. The ratio of futures to spot volumes reflects a change in trader activity on Binance, as the volumes of the two markets can change independently of each other and are therefore analyzed separately.
“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 noted.
Earlier, CryptoQuant also reported that the share of bitcoins that are at a loss is approaching 45%.