PANews reported on October 6th that, according to The Block, perpetual swaps have accounted for 75% of total trading volume on centralized exchanges (CEXs) since 2025, with a turnover of nearly $49 trillion, far exceeding spot trading ($14.8 trillion) and options trading ($1.3 trillion). This compares to 72% in 2024. On decentralized exchanges (DEXs), the share of perpetual swaps has also increased from 50% last year to 56% this year. Cumulative on-chain perpetual swap trading volume has reached $4.7 trillion, compared to $3.6 trillion for spot trading.