Coingalss has released an annual report for CEX in 2025 Mainly for reports on the derivatives market (contracts) Ranking of liquidity of major assets such as BTC, ETH, etc Let everyone see more intuitively the performance of CEX in 2025 The annual trading volume of derivatives reached $85.7 trillion (with a daily average of $264.5 billion) On October 10th, it reached as high as 748 billion US dollars. Global holdings increased from a low of $87 billion in Q1 to a peak of $235.9 billion in October, and reached $145.1 billion at the end of the year (a year-on-year increase of 17%) The total liquidation amount is about 150 billion US dollars, with an average daily turnover of 400-500 million US dollars; Peak value of $19-40 billion on October 10-11 On October 11th, the largest single day clearing in history occurred, and the Asian market woke up to see that both the market and accounts were cleared to zero The ranking of derivative trading volume and market share is as follows: Binance, OKX, Bybit, Bitget Top three exchanges in terms of overall rating: Binance (94.33), OKX (88.77), Bitget (83.10) The market is predicted to experience explosive growth in 2025, with cumulative trading from January to November A turnover of approximately 52 billion US dollars indicates that the emphasis on forecasting the market in 2025 is also a barometer Institutions dominate through BTC spot ETFs, options, and futures; CME BTC futures holdings exceed Binance, and Q3 ETH futures daily trading volume increased by 355% year-on-year, resulting in ETH breaking through the 4000 mark, reaching a high of 4956 and almost breaking the 5000 mark Now the market is falling, trading volume is sluggish, and prices are declining. This is mainly reflected in the lack of confidence among institutions and users in the future. There is no new thing that can emerge in the cryptocurrency market. As long as NFT inscriptions, BRC20 blockchain games and other products are launched like before, retail investors will naturally return when they see the sustainability and liquidity of making money. I hope that friends who are still sticking to the front line will not give up. What we need to do is how to survive in this market. As long as we can survive, the next round of market is none other than you!