Binance saw a total transformation of its RWA perpetual futures in the past three months. Perpetual futures contracts based on RWA are growing their share of Binance derivatives activity.
The Binance perpetual futures market is now hosting much higher RWA volumes. In the past three months, Binance has started competing with traditional markets through its own perpetual futures platform.
According to Binance Research, their market share against TradFi futures platforms expanded from 0.2% to 4.9%. Binance has now competed with Comex, especially on the silver market.
Silver contracts reached 20.8% of COMEX volumes at the peak interest, while gold reached 8.3%. Binance’s example shows that crypto trading infrastructure can adapt to trade any contract that shows a high liquidity potential and factors for clear directional moves.
Binance’s perpetual futures also compete with Hyperliquid’s own contracts. Both platforms reflect the shift to precious metals, commodities, and energy.
Binance tapped precious metals rally
Binance tapped the early 2026 precious metals rally, driven by new gold records and silver’s dramatic price moves.
Initially, Binance took up to 0.4% share of COMEX in January, expanding to 3.6% in April, with 8.3% at peak trading. Silver expanded from 1% to 13.6%, peaking above 20%.
The trend was similar to Hyperliquid precious metals trading, where silver still has the highest cumulative volume to date. The rapid adoption of RWA perpetual futures after years of tokenization attempts shows liquidity is still key for crypto traders, as well as an element of social media hype.
Equities and energy catch up with growing volumes
Equities and energy still have a smaller share of traditional markets. However, Binance’s positioning among crypto traders has allowed a quick shift into new asset classes.
Binance noted CRCL trading was especially active, taking up to 12.1 of its NYSE daily volume. The main reason is that CRCL traders are also crypto natives, reacting to news and events affecting Circle, Inc. and the sector as a whole.
MSTR and TSLA are also picking up speed, though lagging behind CRCL.
Energy perpetual futures have the same share as gold in January. WTI futures take up 2.3% of TradFi platforms, while Brent reached 1%. Those ratios were similar to silver and gold, and may expand if global uncertainty remains.
Binance’s markets, like Hyperliquid, operate 24/7, with price discovery continuing during official closing hours. Traders can use cross margin for multiple positions. Traders are also still learning the behaviors of the oil market at a time of unprecedented uncertainty.
In April, Binance also launched USDT-margined oil WTI and Brent futures with up to 100X leverage, allowing traders to take even more notable directional risk. Binance circumvents the usual complex structure of a brokerage account and access to a commodity exchange. The market also shows similarities to high-volatility crypto trades, and replaces tokens and digital assets at a time when prices are drifting sideways.
