Jayendra Jog: Perpetuals dominate crypto derivatives with $69 trillion global volume

Jayendra Jog: Perpetuals dominate crypto derivatives with $69 trillion global volume
Crypto perps top $69 trillion annually

Jayendra Jog, co-founder and CEO at Sei Labs, highlights that perpetual contracts are the largest segment of the crypto derivatives market, reaching $69 trillion in annual global notional volume.

Jog also points out that U.S. retail investors have been legally excluded from participating in this market for almost a decade. In late 2024, the CFTC cleared prediction markets, with platforms like Polymarket and Kalshi increasing from $30 million in combined monthly volume.

Jog has previously discussed scaling challenges in crypto infrastructure, stating that tripling ethereum’s gas limit after the Glamsterdam upgrade boosts execution capacity but does not fully address scaling. He has also cautioned that agents remain too risky to handle significant amounts of money for several months. These concerns come as the derivatives and prediction markets continue to evolve.

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