Data: Binance, Bitget, and Hyperliquid account for approximately 75% of the stock perpetual contract market

Comparative news, according to the “First Quarter Cryptocurrency Exchange Report” released by TokenInsight, the competitive landscape of the stock perpetual contract market is evolving at an accelerated pace, and the leading effect is becoming more and more prominent. In terms of average daily stock trading volume, Binance led with an average daily trading volume of US$149.15 million, with a market share of 35.23%; Bitget ranked second with an average daily trading volume of US$95.74 million, accounting for 22.61%; and Hyperliquid ranked third with US$73.49 million, with a market share of 17.36%. The top three platforms together account for about 75% of the market share and have formed the first tier of the track.

As major platforms accelerate the deployment of US stocks and TradFi related products, stock perpetual contracts have become a key battleground for crypto exchanges to build cross-asset trading capabilities.