[Stock Derivatives Becoming a Core Growth Engine in the Crypto Market: Analysis of Major Exchange Data] RootData’s cross-sectional analysis of stock derivatives on several major exchanges highlights a noteworthy trend: stock derivatives are transitioning from being a niche product in the crypto market to one of its core growth engines. Just a few days ago, we reviewed the $3.16 trillion trading volume data for the RWA perpetual contract market (including stocks, commodities, forex, and indices), and stocks are now the largest segment, accounting for over 60% of the total. In recent months, particularly July and August, this share has climbed to over 80%, showing that crypto users are increasingly extending their trading needs to traditional stock assets. The report compares data from Binance, OKX, Bitget, and Bybit. Binance is currently the undisputed liquidity hub, holding 61.3% of the market share, while Bitget ranks second with a 19.5% share. What’s interesting here is that Bitget offers 298 stock contracts—the most among the four platforms. Additionally, Bitget’s ±2% weighted depth accounts for 24.2% across the four platforms, significantly higher than its 16.3% OI share. This suggests that Bitget might be the most proactive or focused on stock asset coverage and liquidity investment. Binance leads in three key liquidity metrics: trading volume, daily average OI, and daily average ±2% weighted depth, solidifying its position as the absolute center of liquidity for stock derivatives. Bitget, on the other hand, currently offers the most balanced overall setup. It ranks first in weighted spreads for popular assets, has the widest contract coverage among the four, and places second in trading volume, OI, and depth across liquidity metrics. This makes Bitget a platform with no major weaknesses in terms of both trading costs and liquidity.