According to @ki_young_ju, combined CEX and DEX volume in 2025 reached $18T in spot and $61T in futures, signaling continued growth in crypto exchange activity (source: @ki_young_ju). Total traded volume was approximately $79T, with futures representing about 77% of the total and outpacing spot by roughly 3.4x (source: @ki_young_ju). The derivatives-heavy mix indicates trading activity in 2025 was concentrated in futures markets, a critical data point for assessing market structure and execution conditions (source: @ki_young_ju).