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Binance Wallet has launched a groundbreaking upgrade that's set to transform how traders interact with decentralized finance. In January 2026, the platform introduced perpetual futures trading directly within its web interface, powered by Aster, one of the leading perpetuals platforms in the DeFi space. This integration brings sophisticated leveraged trading capabilities to users while maintaining the security and autonomy of self-custody—a combination that's been difficult to achieve in the crypto ecosystem until now.​
What Makes This Integration Revolutionary
The partnership between Binance Wallet and Aster represents a significant milestone in decentralized trading infrastructure. For the first time, users can trade perpetual contracts with leverage directly from their Keyless Wallet without connecting to external decentralized applications or sacrificing control over their assets. This seamless integration is currently available on the BNB Smart Chain (BSC), with potential expansion to other networks in the future.​
What sets this offering apart is the combination of accessibility and security. Traditional perpetual futures trading on centralized exchanges requires users to deposit funds into exchange-controlled wallets, exposing them to counterparty risk. Conversely, many decentralized alternatives involve complex workflows and fragmented user experiences. Binance Wallet's solution bridges this gap by offering institutional-grade trading tools within a self-custody framework.​
Understanding Perpetual Futures Contracts
Before diving deeper into the platform's features, it's essential to understand what perpetual futures are and why they've become so popular. Perpetual futures are cryptocurrency derivatives that have no expiration date, unlike traditional futures contracts. They use a mechanism called funding rates to keep prices aligned with spot markets, allowing traders to hold positions indefinitely without worrying about contract rollovers.​
The primary appeal of perpetual futures lies in leverage—the ability to control larger positions with relatively small amounts of capital. Most trading platforms offer leverage ranging from 1x to 100x or higher, enabling traders to amplify their potential returns. However, this amplification works both ways: while profits can be magnified, losses are equally amplified, and traders face the risk of liquidation if the market moves against them.​
Liquidation occurs when a trader's position loses enough value that their funds fall below the platform's maintenance margin requirement. The more leverage used, the smaller the margin of error. For example, with 100x leverage, a mere 1% price movement against your position can trigger liquidation, while 5x leverage provides breathing room up to a 20% adverse move.​
Key Features of Binance Wallet's Perpetual Trading
Self-Custody Trading Experience
The cornerstone of this integration is true self-custody. Users maintain complete control over their assets through Binance's keyless multi-party computation (MPC) technology, which eliminates the need for traditional seed phrases while preserving full ownership. This means your funds never leave your control until a trade is executed, and no centralized entity can freeze, restrict, or access your assets.​
Extensive Collateral Support
Binance Wallet supports an impressive range of collateral options for trading on the BSC network, including BNB, ASTER, USDT, USD1, ASBNB, LISUSD, WBETH, BTC, ETH, CAKE, LISTA, and USDF. This flexibility allows traders to utilize various assets as margin without needing to convert everything to a single currency. Notably, the platform supports yield-bearing collateral, meaning staked tokens or yield-generating stablecoins can earn returns even while serving as trading margin.​
Robust Trading Infrastructure
Powered by Aster, the trading environment promises deep liquidity, fast execution, and low fees. Aster ranks as the second-largest perpetual DEX globally by trading volume and has established itself as the leading perpetuals platform on BNB Chain. The platform employs transparent mark pricing calculated from major spot exchanges to reflect fair market values, helping traders avoid manipulation and ensuring accurate liquidation prices.​
Stock Perpetuals Access
Beyond cryptocurrency trading, Aster offers something unique in the DeFi space: stock perpetuals. Users can trade perpetual contracts for blue-chip stocks like Apple (AAPLUSDT) and Nvidia (NVDAUSDT), as well as popular exchange-traded funds such as the Invesco QQQ Fund (QQQUSDT). This feature brings traditional market exposure to the blockchain, allowing traders to speculate on equity prices without leaving the crypto ecosystem.​
Hidden Orders for Enhanced Privacy
One of Aster's most innovative features is Hidden Orders, which provides institutional-level privacy to DeFi traders. When you place a hidden order, it doesn't appear on the public order book—no price, quantity, or order information is visible. These orders go directly into the main matching engine and are only revealed after execution, preventing front-running and allowing traders to build or liquidate large positions without exposing their intentions.​
This feature addresses a critical vulnerability in traditional decentralized exchanges, where public order books can be exploited by bots and sophisticated actors who monitor pending transactions. Hidden orders preserve tight spreads and integrated liquidity while offering complete privacy until execution.​
The BNB Smart Chain Advantage
The initial deployment on BNB Smart Chain is strategic. BSC ranks as the third-largest Layer 1 protocol by market capitalization and total value locked (TVL) in the DeFi ecosystem. It processes approximately 5,000 transactions per second with an average transaction cost of just $0.03—the lowest gas fee of any major Layer 1 blockchain.​
This high-performance infrastructure creates an optimal environment for perpetual futures trading, where speed and cost efficiency are paramount. BSC hosts the second-highest number of DeFi protocols among all blockchains, providing seamless integration opportunities with established lending platforms, decentralized exchanges, and liquid staking protocols. With over 1.3 million daily users, the network demonstrates the stability and throughput necessary for sophisticated trading operations.​
Aster Points System and Rewards
Every perpetual trade executed through Binance Wallet earns Aster points according to Aster's points structure. These points contribute to Aster's trading competitions and reward events, creating additional value for active traders. To celebrate the launch, Binance Wallet and Aster introduced the "On-Chain Perpetual Milestone Challenge," offering users the chance to share up to 200,000 USDT in rewards.​
Trading activities conducted via the Binance Wallet interface synchronize in real-time with Aster, meaning users can view consistent records of deposits, orders, and open positions across both platforms. This unified experience eliminates confusion and ensures traders always have accurate information about their positions.​
Getting Started with Perpetual Trading
Beginning your perpetual trading journey on Binance Wallet is straightforward. First, log in to Binance Wallet Web and navigate to the new 'Perpetuals' tab. Click "Enable Account," then "Approve Trading," and follow the prompts in the Binance App to complete the required confirmations and signatures.​
Next, click "Transfer" under the Account page, select your preferred token and transfer amount, then confirm the transfer to move funds on-chain. Once your balance is confirmed, you're ready to start trading perpetual contracts with leverage.​
Understanding the Risks
While the opportunities are compelling, perpetual futures trading carries significant risks that every user must understand. Trading with leverage amplifies both gains and losses, potentially resulting in the loss of your entire deposited margin or more. Liquidation risk increases with higher leverage ratios, and volatile market conditions can trigger liquidations rapidly.​
Additionally, as this feature operates on Aster, a third-party decentralized exchange, users face risks specific to decentralized platforms, including smart contract vulnerabilities, slippage, specific liquidity risks, and other challenges inherent to permissionless networks. Binance does not control, endorse, or guarantee any of Aster's services, and users bear full responsibility for their trading decisions.​
The Future of On-Chain Derivatives
The integration of perpetual futures trading into Binance Wallet represents more than just a new feature—it signals the maturation of decentralized finance infrastructure. By combining self-custody security with centralized exchange-level trading capabilities, this partnership demonstrates that DeFi can deliver sophisticated financial instruments without compromising user sovereignty.
Currently, the feature is available exclusively through Binance Wallet Web, with potential mobile app support coming in the future. As the platform proves its capabilities on BNB Smart Chain, expansion to additional networks could further democratize access to leveraged trading while maintaining the security benefits of self-custody.​
For traders seeking the convenience of centralized exchanges without sacrificing asset control, Binance Wallet's perpetual futures trading powered by Aster offers a compelling solution. Whether you're an experienced derivatives trader or exploring leveraged positions for the first time, this integration provides the tools, liquidity, and security necessary for professional-grade on-chain trading.

The world of centralized cryptocurrency exchanges (CEXs) continues to evolve rapidly, but one name remains at the forefront: Binance. According to the latest 2025 CEX Annual Report compiled by WuBlockchain, Binance solidified its position as the leading centralized exchange globally, maintaining dominance in both spot and derivatives trading volumes. While other exchanges like MEXC, Bitget, and Gate showed strong growth, Binance’s market leadership remains unchallenged.
This article dives into the key findings from the WuBlockchain report, explores what these numbers mean for the industry, and highlights the emerging trends in user behavior and market dynamics.
Binance’s Spot Market Supremacy
In the 2025 spot trading volume rankings, Binance dominated with nearly five times the volume of Bybit, fueled primarily by $BTC and $ETH pairs. Gate and Crypto.com completed the top four, but neither came close to Binance’s massive scale.
Binance: The undisputed leader, Binance processed more spot trading volume than all other exchanges combined in several key months of 2025.Bybit: Maintained a strong position, but its volume was just a fraction of Binance’s.Gate: Showed notable growth, particularly in emerging markets.Crypto.com: Remained a top contender, especially in regions with strong regulatory compliance.
This overwhelming dominance in spot trading is a testament to Binance’s robust infrastructure, wide range of supported assets, and global reach. The exchange’s ability to attract both retail and institutional traders has set a high bar for competitors.

Derivatives Market: Binance Still on Top
The derivatives market tells a similar story. Binance, OKX, Bybit, and Bitget occupied the top four positions in derivatives trading volume for 2025.
Binance: Continued to lead, leveraging its advanced trading tools and liquidity.OKX: Showed strong growth, particularly in options and perpetual contracts.Bybit: Maintained a loyal user base with its aggressive marketing and user incentives.Bitget: Experienced a surge in volume, especially among Asian and Russian-speaking users.
While OKX and Bybit have narrowed the gap in recent years, Binance’s derivatives platform remains the go-to for traders seeking high leverage and deep liquidity.

Traffic Insights: Where Users Come From
User traffic patterns offer additional insight into each exchange’s global footprint. Binance’s user base is notably diversified, with significant traffic coming from South Korea, Brazil, and Vietnam. This reflects Binance’s successful localization efforts and its ability to adapt to regional regulatory environments, as well as the broader ecosystem surrounding the platform, including $BNB .
South Korea: Binance has made inroads with Korean users by supporting local payment methods and offering Korean-language interfaces.Brazil: The Brazilian market has seen explosive growth in crypto adoption, and Binance’s presence there is a major factor.Vietnam: Binance’s aggressive marketing and educational campaigns have paid off in Vietnam.
In contrast, exchanges like Coinbase, Crypto.com, and Kraken receive the majority of their traffic from the United States. This highlights the regional differences in exchange popularity and regulatory acceptance.
Coinbase: Remains the top choice for US users, thanks to its compliance-first approach.Crypto.com: Also sees most of its traffic from the US, but is expanding globally.Kraken: Maintains a loyal US user base and is known for its security and transparency.
Several exchanges, including MEXC and Bitget, see most of their traffic originating from Russia and Russian-speaking regions. This suggests that these exchanges have tailored their services to meet the needs of users in those areas, possibly due to regulatory or language barriers.

Growth Trends: MEXC, Bitget, and Gate Shine
While Binance continues to dominate, the WuBlockchain report highlights strong growth among other exchanges. MEXC, Bitget, and Gate all showed impressive increases in both spot and derivatives trading volumes.
MEXC: Focused on emerging markets and niche assets, MEXC attracted a growing number of traders seeking alternative investment opportunities.Bitget: Expanded its derivatives offerings and marketing, particularly in Asia and Russia.Gate: Invested heavily in user acquisition and localization, resulting in significant volume growth.
These exchanges are proving that there is still room for competition in the CEX space, especially as new markets open up and user preferences shift.
Challenges and Caveats
It’s important to note that the data in the WuBlockchain report may involve significant wash trading or bot activity. Spot and derivatives data are sourced from Coingecko, while traffic data comes from Similarweb. While these sources are reputable, the presence of non-organic activity can distort the true picture of exchange performance.
Wash Trading: Some exchanges may inflate their volumes through wash trading, making it difficult to compare real user activity.Bot Activity: Automated trading bots can also skew volume and traffic numbers.
Despite these challenges, the overall trends are clear: Binance remains the dominant force in the CEX landscape, but other exchanges are making significant strides.
What These Findings Mean for the Industry
The WuBlockchain report underscores several key themes for the crypto industry in 2025:
Consolidation: The top exchanges are pulling further ahead, making it harder for smaller players to compete.Globalization: Exchanges are increasingly targeting international markets, leading to more diverse user bases.Innovation: Growth among MEXC, Bitget, and Gate shows that innovation and localization can drive success even in a crowded market.
For users, this means more choices and better services, but also the need to be vigilant about exchange reliability and transparency. For exchanges, the report highlights the importance of building trust, adapting to regional needs, and investing in security and compliance.
The Future of Centralized Exchanges
As we look ahead, the dominance of Binance is likely to continue, but the landscape is far from static. Regulatory changes, technological advancements, and shifting user preferences will shape the future of CEXs.
Regulation: Exchanges will need to navigate an increasingly complex regulatory environment, particularly in major markets like the US and EU.Technology: Innovations in trading platforms, security, and user experience will be critical for staying competitive.User Trust: Building and maintaining user trust will be essential, especially as concerns about wash trading and bot activity persist.
In conclusion, the 2025 CEX Annual Report from WuBlockchain paints a clear picture of Binance’s continued dominance, but also reveals the dynamic and competitive nature of the centralized exchange market. As the industry evolves, exchanges that can adapt to change and meet the needs of a global user base will be best positioned for success.