Cryptocurrency exchanges are turning traditional financial assets into the next trillion dollar contract market According to the data from RootDataCrypto, the trading volume of traditional financial assets on top cryptocurrency exchanges has exceeded $1.3 trillion in the first half of 2026, which is approximately 10 times that of the entire year of 2025. The trading volume in January was only $67.94 billion, but by June it had grown to $430.48 billion, a 6.3 fold increase in six months. At the current growth rate, the annual trading volume in 2026 may approach $3 trillion. But of this $1.3 trillion, 98.59% comes from derivatives, and spot trading volume is only $18.558 billion, accounting for less than 1.5%. So now, the main source of growth for trading US stocks, Korean stocks, gold, and silver on cryptocurrency exchanges is still contracts. What users gain is the price exposure of traditional financial assets, and the scale of holding tokenized stock spot is still very small. From January to August 24th, the cumulative trading volume of traditional financial assets on the five major exchanges was approximately $1.9 trillion, with @ Binance accounting for $1.29 trillion, or 68.3%, still the largest trading platform. Binance maintains its advantage by relying on its maximum trading volume and position, with an average daily trading volume of $14.927 billion in stock derivatives in August. The advantage of @ okx, ranked second, mainly lies in trading costs, with a weighted spread of only 0.0091%, the lowest among the five platforms. However, the proportion of holdings is significantly lower than that of trading volume, indicating that users are more inclined towards high-frequency trading and quick turnover. The average daily trading volume of stock derivatives for the third company @ HyperliquidX is about 3.067 billion US dollars, while the open interest volume reaches 1.986 billion US dollars. The ratio of open interest volume to trading volume is about 0.65, far higher than Binance's 0.23 and OKX's 0.15. Users prefer to continue holding after opening a position, which enhances their ability to accumulate funds. The next choice for @ Gate is to expand asset coverage. At present, 1022 traditional financial related assets have been covered, among which 366 are stock derivatives, ranking first in quantity. The scope has extended to US stocks, Hong Kong stocks, Korean stocks, and Japanese stocks. The daily average trading volume of Gate from May to August increased by 124.1%, 187.3%, 323.7%, and 261.1% month on month, respectively. Starting from August 14th, the weighted trading depth within the range of plus or minus 2% has surpassed Binance for 11 consecutive trading days. However, in terms of longer periods, Binance's average depth still ranks first. I don't know if my friends still remember, but I have been saying that the US stock market, RWA of stocks, or on chain trading itself are pseudo demand, and the futures contracts of stocks may become the second growth point. Now it can be seen from the data that there are actually quite few investors willing to buy stocks through cryptocurrency. More cryptocurrency investors still hope to add leverage to traditional stocks. As I mentioned in my speech in Hong Kong, investors nowadays are not very interested in the increasing number of counterfeit coins in Dogecoin. Instead, they are more interested in leveraging several times, ten times, or even dozens of times for companies like Nvidia, Micron, Hynix, and even Oil. The rise and fall of the former are all in the hands of Gouzhuang, while the rise and fall of the latter are at least supported by financial reports, data, and emotions.