BitMEX Report Finds Crypto Perpetuals Enter Post-Yield Era

TL;DR:

BitMEX, one of the safest exchanges, today released its end-of-year research report, “State of Crypto Perpetual Swaps 2025,” outlining five core insights that defined a turbulent year for the global crypto derivatives market. The report examines how structural stress, liquidity shocks and the breakd...

Key Points:

Background:

Decentralized Finance (DeFi) refers to financial services built on blockchain networks that operate without traditional intermediaries like banks. DeFi protocols enable lending, borrowing, trading, and earning yield on cryptocurrency assets through smart contracts.

Why It Matters:

DeFi represents a fundamental reimagining of the financial system, offering permissionless access to financial services globally. DeFi developments impact how value is exchanged, stored, and utilized in the crypto ecosystem, driving innovation in financial products and services.