Crypto Leverage Still Down 50% After October’s Black Friday Crash, CoinGecko Shows
BeInCrypto
CoinGecko reports that total crypto open interest remains over 50% below its October 2025 peak following a major market liquidation event.Summary
A CoinGecko report reveals that total crypto open interest dropped from $210 billion in October 2025 to $99.09 billion by April 2026, marking a 50% decline. While centralized exchanges like Binance and OKX continue to dominate the derivatives market, their trading volumes have weakened by 34%. Conversely, perpetual decentralized exchanges are gaining market share, with platforms like Hyperliquid demonstrating significant growth in both volume and open interest.
(Source：BeInCrypto)