CoinGlass's latest 2025 crypto derivatives market annual report reveals the true evaluation mechanism behind exchange rankings — far from a simple leaderboard, it is based on a multi-dimensional weighted scoring system.

Specifically, the assessment framework centers on core trading data, including key indicators such as trading volume, open interest, order book depth, and slippage costs. These hard data points reflect the liquidity quality and microstructure of the market. But trading data alone is not enough.

The report also incorporates scores across multiple dimensions such as product ecosystem completeness, platform security mechanisms, information transparency, and market quality. This means the evaluation considers not only who has the largest trading volume but also who has a well-developed ecosystem, strict risk controls, and comprehensive user protection. Ultimately, through individual scores and weighted totals, a more representative industry ranking is formed.

This evaluation logic brings more scientific rigor and credibility to exchange rankings and provides a reference for investors choosing platforms. The performance of a leading exchange in this assessment…