Perpetual futures are breaking records—and the momentum keeps building. Recent market data reveals trading volumes hitting fresh cycle peaks, with participation from retail and institutional traders climbing sharply. What's driving this surge? Rising leverage appetite and the ongoing hunt for short-term gains. The numbers tell a clear story: derivatives have cemented themselves as the preferred battleground for active traders chasing quick moves. Spot markets? They're playing a secondary role these days. The shift underscores a fundamental reality in crypto markets—when volatility spikes and traders want exposure with amplified returns, perpetual futures become the arena of choice.