MEXC Reports Explosive Growth in Wall Street Trading on Crypto Exchanges

Crypto exchanges are experiencing significant trading activity on Wall Street, with MEXC reporting a 3,308% quarter-over-quarter increase in average daily stock futures volume across Asia. The number of daily traders also rose by 386%, according to the exchange's data.

The growth is attributed to retail brokers channeling demand for stocks and commodities into leveraged products, such as perpetuals. TradFi perpetuals are outpacing spot real-world assets on major crypto venues, with futures activity continuing to increase in the third quarter through August.

MEXC's survey found that 87.2% of Asian respondents planned to increase their trading of traditional assets through centralized exchanges (CEXs), while 83.9% already used CEXs as their primary venue for crypto trading. MEXC CEO Vugar Usi attributed the trend to investors wanting a single funded account to cover multiple asset classes.

The survey also revealed that 75.1% of respondents had encountered a major market event while traditional markets were closed, and 79% would consider using a crypto venue to trade gold or oil in such situations.