Perpetual Trading Hits $85 Trillion as DEX Market Share Grows
The perpetual trading market has surged to $85.3 trillion in 2025, fueled by aggressive expansion from both centralized and decentralized exchanges. MEXC and BingX lead in new contract listings, adding 879 and 565 perpetual contracts respectively, while DEXs continue gaining ground.
Centralized exchanges still dominate liquidity, but decentralized platforms are closing the gap. CoinGecko's 2026 report highlights a notable shift in trading volume, open interest, and product launches toward DEXs. Binance, meanwhile, is adjusting its strategy amid the changing landscape.
The rise of perpetual trading reflects broader crypto market maturation. Smaller tokens benefit from niche exchange listings, while institutional players navigate evolving regulatory and competitive pressures.