Crypto Exchanges Grow US-Linked Assets Amid Shift Towards Broader Access
Crypto exchanges are not replacing traditional market volume but rather growing the overall pool of trades. According to Binance Research, perpetual futures linked to traditional-market assets made up 37% of Binance's perp volume in August.
In one recent 24-hour snapshot, these contracts took 10 of the 15 highest-volume contracts on the venue, with SNDK ranking ahead of BTC-USDT. This represents a significant shift towards exposure to US-listed companies, which now make up a meaningful share of what crypto exchanges trade.
Binance Head of Exchange & Trading Shunyet Jan notes that extending market hours is the operational part, while creating durable liquidity during those hours is the structural challenge. He believes connecting demand from geographies and time zones not fully served by traditional sessions can broaden access to U.S.-linked assets and support a deeper, more global liquidity base.
A key finding is that weekend volume in perpetuals tied to traditional-market assets across crypto exchanges grew from roughly $4.5 billion to $28 billion by mid-August 2026. This growth cannot be taken from venues that are closed, suggesting expansion rather than displacement of existing markets.