In 2025, the entire cryptocurrency market's trading activity reached a remarkable peak. Data shows that both centralized and decentralized exchanges set new records in trading volume — spot trading volume surged to $18 trillion, and futures trading volume even broke through the $61 trillion mark.

What does this set of numbers reflect? First, a surge in market participants and an expansion of market depth. The explosive growth in trading volume not only indicates that more funds are flowing into the crypto ecosystem but also suggests that the market is moving toward a more mature stage. The rise in leverage trading activities and the prosperity of the derivatives market further confirm the widespread participation of institutional investors and professional traders.

More importantly, this wave of trading enthusiasm demonstrates a profound change in the role of cryptocurrencies within the global financial system. From once being a niche asset class, to now occupying an increasingly important position in global financial transactions, this transformation is gradually becoming a reality. Whether retail investors or institutions, spot or derivatives markets, crypto exchanges are becoming a vital part of the global financial infrastructure.