Stock perpetual futures on centralized crypto exchanges traded $665.42 billion in August, according to WuBlockchain Data Center. 3 underlying names produced more than half of that activity.
The total rose 4.6% from $636.19 billion in July. Still, the figure is 56.5 times higher than January’s $11.58 billion.
Chip Stocks Still Control the Equity Perp Market
SanDisk (SNDK) led all underlying assets in August volume, with $193.58 billion. SK Hynix (SKHYNIX) followed at $75.89 billion, and the SpaceX-tracking SPCX contract added $65.93 billion.
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Together, the three represented 50.4% of the market. That concentration echoes what CryptoQuant documented in July, when memory and semiconductor names dominated exchange flows.
Notably, SNDK perpetual volume equaled 62.4% of the stock’s US spot turnover on August 19, the highest reading on record in WuBlockchain’s tokenized equities data. The ratio eased to 38.0% by August 26.
No other equity-linked perpetual comes close. Circle (CRCL) ranked second at 47.2%, while Nvidia (NVDA) and Meta both sit below 3%.
Exchanges Widen Their Stock Derivatives Lineup
Meanwhile, Binance reported roughly $433.4 billion in traditional finance (TradFi) perpetual volume for August, about 15 times January’s $29.5 billion. Equity-linked contracts generated $342.9 billion of that figure, or close to 79%.
The exchange is now adding options on more than 1,000 US stocks and exchange-traded funds (ETFs) for eligible users outside the United States.
Rivals are moving in parallel. Bybit plans to start 24/7 options trading on September 17, using SpaceX and Nvidia perpetuals as the underlyings.
Whether the market broadens beyond memory chips will determine if September repeats August’s narrow structure.
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The post 3 Stocks Drive Half of August’s $665 Billion CEX Perpetual Futures Volume appeared first on BeInCrypto.
Source: https://beincrypto.com/stock-perpetual-futures-august-volume-concentration/
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