The perpetual contract for SanDisk (SNDK) shares on the Binance exchange surpassed the trading volume of the two largest cryptocurrency assets – Bitcoin and Ethereum. According to the platform, over the past twenty‑four hours, the trading volume of the SNDK instrument exceeded seven billion three hundred eighty million dollars.

During the same period, the trading volumes for Bitcoin and Ethereum amounted to six billion one hundred ten million and four billion five hundred seventy million dollars, respectively. Such dynamics did not become sudden: back on August 17th, SNDK ranked third among the most active instruments on Binance with a daily trading volume of about three billion seven hundred ten million dollars. At that time, the open interest in perpetual share contracts was one billion seven hundred and thirty million dollars, which was almost twice the figure of the SPCX instrument of nine hundred and twenty–eight million dollars and more than three times the figure of SKHX of four hundred and ninety-three million dollars. Today, SNDK quotes reached a high of $1,693, and at the time of preparing this material, they were at $1,641. The price has risen by more than 35 percent from the low of $1,213 in less than two weeks.

Interest in perpetual contracts for shares of traditional companies is beginning to overshadow interest in major altcoins, at least on the Binance platform. Of the ten most traded perpetual contracts over the past 24 hours, half were for TradFi instruments. According to the exchange data, SNDK is followed by SKHYNIX with a trading volume of 2.48 billion dollars, KORU – 1.84 billion dollars, SOXL – 1.82 billion dollars, and SPCX – 1.35 billion dollars. This trading structure indicates growing demand for derivative instruments tied to the stocks of technology and industrial companies, which is gradually changing the balance of power on cryptocurrency platforms.

Meanwhile, Binance has become the second-largest issuer of tokenized stocks in terms of market capitalization. On August 13, the capitalization of bStock products reached 610 million 600 thousand dollars, or 22.1 percent of the entire sector, which allowed them to surpass xStocks, which had a capitalization of 601 million 200 thousand dollars.

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The material was prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.