😂 Let me throw some cold water on it. The data from #BinanceTradFi is indeed incredible.

CN
Phyrex
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11 hours ago

😂I come to pour some cold water. The data from #BinanceTradFi is indeed staggering, a weekly volume of 97 billion dollars is absolutely at the top in the cryptocurrency field, there’s no question about that.

However, the daily trading volume on Nasdaq is typically between 480 billion dollars and 670 billion dollars, taking an average, it’s about 580 billion dollars. This is the daily trading volume.

In comparison to CME, it's even more incomparable; CME's daily trading volume is approximately in the trillion-dollar range. The nominal daily value of cryptocurrencies alone on CME exceeds 10.7 billion dollars.

I’m not saying Binance isn’t strong, rather, the proportion of U.S. stock spot or even contracts compared to traditional cryptocurrency trading isn’t very large.

From the development data, we can see that Binance’s native cryptocurrency contract trading volume in the last week of May was 585.3 billion dollars. Of course, it cannot be said that the related contracts of U.S. stocks are not progressing rapidly, as the trading volume for U.S. stock-related contracts was only about 60 billion dollars in May.

In just two months, it rose to 97 billion dollars, which is indeed very rapid growth, but please note that currently, cryptocurrency is experiencing the depths of winter in the recent years. Even so, the trading volume is still about six times that of U.S. stock-related contracts, and if the market warms up slightly, this gap in data will widen further.

Is U.S. stock a growth market for cryptocurrency? Yes.

Is U.S. stock a savior for cryptocurrency? Not necessarily.

Can U.S. stock replace the proportion of cryptocurrency in exchanges? That’s wishful thinking.


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