🚨New: According to @cryptoquant_com, Binance’s futures-to-spot trading volume ratio has climbed to ~5.1, its highest level since mid-2023, as derivatives trading reached $25.4T in 2025 (+19.7% YoY) while spot volume remained flat at $6.99T. The rise reflects structural growth in derivatives rather than a decline in spot activity, a shift that often signals more intense market volatility.

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