Stock perpetual futures are expanding fast on both centralized and decentralized crypto exchanges. Monthly equity perpetual volume on centralized venues jumped roughly 17 times between April and July 2026, according to CryptoQuant.
Semiconductor and memory names drive the centralized boom. Decentralized exchanges (DEXs) show a wider mix, with stocks, commodities, and equity indexes among their largest markets.
Memory Chip Names Now Lead Crypto Equity Volume
In its latest market report, CryptoQuant noted that monthly volume climbed from about $15 billion in April to nearly $250 billion in July. Growth between June and July alone reached 56%.
Binance handled close to $193 billion of the July total, or 76% of all activity. Gate posted the fastest monthly expansion at 308% and has grown every month since May.
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Crypto exchanges are a 24/7 Wall Street terminal.
TradFi equity perps are running at $250B/month, up from $15B in April — a 17x move in 3 months.
Binance owns 76% of flow, but Gate is the breakout: +308% MoM, growing every month since May. pic.twitter.com/O2DIFqZlz1
— CryptoQuant.com (@cryptoquant_com) August 13, 2026
Notably, much of this activity is concentrated in semiconductor and memory-chip stocks. SanDisk (SNDK) was the most-traded equity across the venues tracked by CryptoQuant.
It accounted for roughly 57% of equity perpetual volume on HTX, 29% on Gate, and 27% on Binance. Volume also clustered in SOXL, a triple-leveraged semiconductor fund, SK Hynix, Micron, and memory names.
Perp DEXs Widen Beyond Crypto Assets
Decentralized venues spread activity more widely. Equities, commodities, and index contracts all rank in the top ten by 90-day volume.
“Perp DEXs are gradually evolving from crypto-only venues into a universal trading layer for a much broader range of liquid assets,” CryptoRank said.
SpaceX (SPCX) was the most-traded non-crypto asset, trailing only Bitcoin (BTC), Ethereum (ETH), and Hyperliquid (HYPE) in trading volume. It drew $84.6 billion over 90 days, ahead of Solana (SOL) at $77 billion, according to CryptoRank data.
SK Hynix recorded $31.1 billion over the period. Oil followed at $29.1 billion, gold at $28.5 billion, and the S&P 500 at $26.9 billion.
Bitcoin still led with $543 billion in volume, ahead of Ethereum at $246 billion and Hyperliquid at $93.6 billion. Non-crypto markets accounted for roughly 17% of the volume across the ten largest contracts.
The shift builds on earlier growth in pre-IPO perpetuals, which reached about $12 billion in June.
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