Traditional finance perpetual futures volumes have exceeded Binance's BTCUSDT perp volume by 2x over the past month, signaling shifting liquidity patterns.
DeFi & Yields ·
Traditional finance perpetual futures markets have recorded volumes roughly double those of Binance's BTCUSDT perpetual contract over the past month, according to recent analysis. This shift reflects a notable reallocation of trading activity between centralized crypto derivatives venues and traditional finance infrastructure. The volume concentration underscores changing patterns in where large traders are executing Bitcoin perpetual positions, though the specific breakdown of which TradFi venues are capturing this flow and whether the trend reflects sustained migration or cyclical trading behavior remains unclear.