Crypto Derivatives Notional Hits $100T as Gen Z Turns to Speculation Amid Wealth Barriers (CRYPTO-DERS)

Gen Z-driven speculation in crypto derivatives is surging to $100 trillion in notional value, according to CoinFund managing partner David Pakman at Consensus Hong Kong (February 11, 2026). Pakman reframes the boom as a rational response to wealth-building barriers: home prices now stand at about 7.5 times income versus 4.5 for prior generations, with only 13% of 25-year-olds homeowners. About half of Gen Z investors own crypto, and they are increasingly using memecoins, perpetual futures, zero-day options, and prediction markets. Crypto perpetual contracts hit $100 trillion in notional volume last year, while prediction markets expanded from $100 million to $44 billion in three years, with 80% of activity centered on sports betting as of early February. Pakman calls for more transparent, lower-cost tools to express and manage risk fairly.