Traditional finance-linked assets have become the biggest segment on decentralized perpetual futures exchanges, with gold, the S&P 500 and SpaceX stock drawing enough activity to displace most crypto tokens from the top trading ranks. CryptoRank said that as of Aug. 13, only four of the 10 most-traded assets on Perp DEXs were cryptocurrencies: BTC, ETH, HYPE and SOL, while SpaceX stock, listed as SPCX, was the most-traded traditional finance asset. The shift suggests traders are increasingly using decentralized perpetual futures markets for tokenized exposure to equities, commodities and benchmark indexes, broadening DeFi activity beyond crypto-native assets and deepening the overlap between traditional and blockchain-based markets.