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On-chain derivatives trading is emerging as crypto's next major DeFi vertical, according to Jamie Coutts. The annual volume for on-chain perpetual contracts has reached $7.5 trillion, with year-over-year growth of 382 percent and market share now estimated at 7 to 9 percent of centralized exchange activity.
Despite this surge in on-chain perps, the options market remains under-penetrated, accounting for less than 1 percent of its $3.2 trillion addressable sector, highlighting a significant growth opportunity for on-chain solutions.