[Data: Spot trading volume in the crypto market to reach $18.6 trillion by 2025, perpetual contract trading volume to hit $61.7 trillion] CryptoQuant released a review of cryptocurrency exchange activity for 2025, highlighting that spot trading volume will reach $18.6 trillion (a 9% year-on-year increase), while perpetual contract trading volume will surge to $61.7 trillion (a 29% year-on-year increase). Binance dominates in spot trading, Bitcoin perpetual contracts, liquidity, and reserves. Growth is driven by derivatives, with market power continuing to concentrate at the top.