Binance handled $53.8 billion in traditional finance equity perpetual contracts last month. That single number represents about 80% of the entire market for these products.
The catalyst was, fittingly, a company that builds rockets. SpaceX’s NASDAQ debut on June 12 turned Binance’s perpetual futures desk into one of the busiest trading venues of the month.
SpaceX lit the fuse
On the day SpaceX went public, Binance’s SPCXUSDT perpetual futures contract logged more than $5.7 billion in single-day trading volume. It briefly became the exchange’s second-most popular futures product, trailing only Bitcoin perpetuals.
Across all trading venues, SpaceX-related contract volume exceeded $9 billion in cumulative trading. Binance captured more than 60% of that total.
