CoinGape·9h ago·neutral

Binance Dominates SpaceX Perpetual Futures With Over 60% Market Share

Binance now holds over 60% of the SpaceX perpetual futures market, with SPCXUSDT becoming its second most traded futures product after Bitcoin. The product saw over $5.6B in 24-hour volume as of June 13.

SPCXUSDT is now Binance's second-largest futures product by volume after Bitcoin perpetuals
Over $5.6 billion in rolling 24-hour trading volume as of June 13
Binance has the highest open interest at $190.59 million across all venues
Over 80% of demand for direct stock offerings on Binance comes from users without easy access to US equity markets
Binance introduced the perpetual product one day after SpaceX filed its S-1

exchangemarketImpact 4/10

Why our editor rated this neutral

Binance's dominance in a new product category shows exchange strength, but it's a single-product data point. Neutral for the broader crypto industry.

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