According to CoinMarketCap, Ethereum (ETH) futures trading has surpassed Bitcoin (BTC) on the CME for the first time, marking a notable shift in derivatives market leadership on December 2, 2025. Source: CoinMarketCap. CoinMarketCap also reports that this milestone has fueled market speculation about an ETH 'super cycle' tied to rising adoption and increased volatility; this reflects sentiment rather than a confirmed outcome. Source: CoinMarketCap. Traders can validate and monitor the development by comparing CME-reported ETH and BTC futures volume and open interest in official daily statistics to assess persistence and flow concentration. Source: CME Group.

According to @cas_abbe, Binance processes approximately USD 25B in spot and USD 62B in futures trading volume per day (source: @cas_abbe on X, Nov 27, 2025). According to @cas_abbe, Binance captures roughly one-third of BTC and ETH inflows (source: @cas_abbe on X, Nov 27, 2025). According to @cas_abbe, Binance’s stablecoin reserves have reached a record USD 51.1B, the highest in the industry (source: @cas_abbe on X, Nov 27, 2025). According to @cas_abbe, liquidity, flows, and market depth continue to be concentrated on Binance, underscoring its trading dominance (source: @cas_abbe on X, Nov 27, 2025).

According to glassnode, SOL futures volume began the year at $7B, reached a year-to-date high of $12.2B in February, and currently stands at $8.7B, indicating a mostly flat trend over the past year.

According to glassnode, Ethereum ($ETH) futures volume started the year at $32 billion, hit a year-to-date high of $31 billion, and currently stands at $28 billion. The highest volume in the past year was recorded at $37 billion in December.

According to glassnode, $BTC futures volumes are showing signs of rebounding, with a 32% increase since February 23, despite being below December's peak of $74B. In contrast, $ETH and $SOL futures volumes remain mostly flat, indicating a divergence in market interest and activity among these major cryptocurrencies.