Crypto Derivatives Market Sees Record $250 Billion Monthly Volume

The crypto derivatives market has seen an explosive growth in equity perpetual futures, reaching a record $250 billion in monthly trading volume in July. This represents a seventeenfold increase from April's $15 billion, according to data from analytics firm CryptoQuant.

This surge underscores the rapid transformation of cryptocurrency exchanges into round-the-clock marketplaces for contracts tied to traditional stocks. The perpetual contracts allow traders to gain exposure to publicly traded companies without being constrained by Wall Street trading hours.

Binance commanded three-quarters of the market, processing approximately $193 billion in equity perpetual volume in July. Behind Binance, competition remained fragmented with Bitget, Bybit, and Gate trailing at a considerable distance.

The 'AI-memory complex', securities directly exposed to demand for chips powering artificial intelligence, dominated trading activity. SanDisk was the most-traded equity across venues tracked by CryptoQuant, capturing roughly 57% of equity perpetual volume on HTX.