Perpetual futures—once a defining feature of crypto trading—are rapidly expanding beyond Bitcoin (BTC) and Ethereum (ETH) into equities, commodities, and even pre-IPO private company exposure, raising fresh questions about leverage-driven risk and the spread of fast liquidation mechanics into traditional markets.
The shift was outlined by Matthew Fisher, CEO of Katana Network, in a recent CoinDesk op-ed, where he argued that perpetual futures are becoming a universal trading wrapper rather than a crypto-specific instrument. Fisher described the trend as ‘perpification’—the idea that more… Read more








