TechFlow News, April 20: According to TokenInsight’s “Q1 Cryptocurrency Exchange Report,” the competitive landscape for stock perpetual contracts is evolving rapidly, with a growing concentration of market share among top players. In terms of daily average trading volume for stock perpetuals, Binance leads with $149.15 million, capturing 35.23% of the market; Bitget ranks second with $95.74 million daily average volume, representing 22.61% of the market; and Hyperliquid comes third with $73.49 million, holding 17.36% market share. Together, these top three platforms account for approximately 75% of the total market, forming the first-tier group in this segment.
As major exchanges accelerate their expansion into U.S. equities and TradFi-related products, stock perpetual contracts have become a critical battleground for crypto exchanges seeking to build cross-asset trading capabilities.
