What impact do derivatives have on the overall market?

The volume in the derivatives market is almost 60% of all the volume in crypto. Which leads me to believe that people are becoming way more degen and more comfortable with gambling instead of investing.

When you look at protocols and projects that are launching and gaining traction quickly they are usually built around some sort of perp or gamified version of options.

GMX, OPYN, Hegic, OKX, Bybit, Dydx, all have insane volume for futures / options (even daily expiry)

And then you have projects like Kalshi, Yolorekt, Thales, Logium, that take derivatives and gamify them even more.

So how much does the volume in derivatives prop up the prices across the market?