Crypto Exchanges Push Into TradFi as Perpetual Volume Tops $2 Billion
- TradFi perpetual open interest surpassed $2 billion after doubling from late May levels.
- Binance, Bybit, and Gate control most open interest across both derivative markets.
- TradFi perps remain only 3% of crypto open interest despite their rapid expansion.
Crypto exchanges are carrying their perpetual futures infrastructure beyond digital assets, opening round-the-clock markets tied to equities, metals, oil, and indexes.
CryptoQuant data places open interest in these TradFi contracts above $2 billion by July, roughly double late-May levels after months near $350 million to $500 million. The figure measures outstanding contracts, rather than completed trading volume.
Binance, Bybit, and Gate Dominate TradFi Perpetual Growth
According to the report, the same platforms dominating cryptocurrency derivatives also lead this newer market. Binance holds about $720 milโฆ
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