Binance Gold Derivatives Volume Tops $7.6 Billion, Surges 5,000-Fold in 90 Days

Binance said daily trading volume in gold derivatives on its platform has surpassed $7.6 billion.

The global cryptocurrency exchange said on its website on April 8 that daily volume in gold derivatives recently exceeded that level. Binance listed the gold derivatives earlier this year.

Daily gold volume has increased 5,000-fold in 90 days from about $1.5 million when the product was first listed, the exchange said. It added that similar growth has appeared across multiple asset classes, including gold, silver, equities and energy.

Daily crude oil trading volume on Binance has also topped $1 billion recently. West Texas Intermediate accounted for $760 million and Brent crude for $360 million. Daily trading volume in Circle and Tesla derivatives also surpassed $250 million and $190 million, respectively.

First-quarter trading data for traditional finance, or TradFi, products suggests crypto infrastructure can support multi-asset trading at meaningful scale globally, Binance said. It added that precious metals have already reached liquidity levels comparable with established regional exchanges. As liquidity deepens and more asset classes are added, Binance could become more than an alternative exchange and serve as a primary access point for some global investors.