Binance (CRYPTO: BNB) co-CEO Richard Teng said Wednesday that the platform’s gold perpetual trading volume now rivals that of several national commodity exchanges.
TradFi Perps Thrive On Crypto Exchanges
Teng drew on Binance’s own research, which highlighted the “rapid” growth of perpetual futures on cryptocurrency exchanges for traditional assets such as stocks, gold, and silver.
Note that these are leveraged contracts, not physical ownership or spot trading.
Binance Leading The Market?
The report recognized Binance as the market leader with 41% share. Notably, CoinGecko data showed Binance led with $46 billion in total perpetual trading volume over the last 24 hours.
A chart embedded in the report showed that the gold perpetual volume on cryptocurrency exchanges was over twice that of the Dubai Gold & Commodities Exchange and the Multi Commodity Exchange, and more than four …