TradFi Perps Surpass Binance's BTCUSDT Volume Amid Explosive Market Growth
The world of perpetual contracts, also known as perps, has exploded in the past year. What was once a niche curiosity on crypto exchanges has grown to be a massive market, with TradFi perps collectively generating more than twice the monthly volume of Binance's own BTCUSDT perpetual contract.
Just 12 months ago, trading perpetual contracts on gold or the S&P 500 via a crypto exchange was an unusual occurrence. However, by June this year, the monthly volume across major centralized exchanges had climbed to approximately $387 billion to $393 billion, a staggering 117 times growth in just six months.
Binance captured more than 58% of the overall TradFi perp market in June, and its dominance is even sharper in specific sub-categories. In the ETF perp segment alone, Binance holds a 74% share, with cumulative volume reaching approximately $116 billion as of July this year.