[Crypto Exchange 2026 Q2 Report: TradFi Business Becomes Market Highlight] The crypto research institute TokenInsight released the [Crypto Exchange 2026 Q2 Report] yesterday—let’s take a look. As for cryptocurrencies, well, everyone knows this year has been pretty stagnant. Both trading volume and prices have dropped, so there’s not much to talk about. Overall market trading volume in Q2 fell another 8% compared to Q1, and if you compare it to the peak in Q3 last year, it’s been cut in half. Thankfully, most exchanges launched TradFi (traditional finance) services this year, which have grown rapidly and helped the crypto industry save face. Otherwise, the overall trading volume would look even worse. Right now, trading volume from TradFi contracts already accounts for 15% of the total trading volume in the crypto industry. In January, TradFi contract trading volume was $52 billion; by June, it had grown to $268 billion. Binance, despite being relatively late to launch TradFi services, leveraged its massive user base and brand power as the top crypto exchange to quickly dominate the market. It now holds 60% of the TradFi contract market share. Bitget, on the other hand, benefited from its early mover advantage and currently holds 11.01% of the market share. Following closely are OKX (10.97%) and MEXC (10.85%). Right now, Binance and Bitget have the highest penetration rates for TradFi contract services within their derivatives trading offerings—both exceeding 8%. As more people get used to trading U.S. stocks on crypto exchanges, we might see TradFi trading volume account for over 30%—or even more—of total trading volume on crypto exchanges in Q3 and Q4.