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Binance XAUT Perpetual Hits Record $6.4 Billion Daily Trading Volume

According to CryptoQuant, Binance’s XAUT perpetual contract (a futures contract without expiry) tied to a gold-backed token reached a new all-time high and became the exchange’s fifth-largest perpetual pair by volume.

Summary

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Terms & Concepts
  • XAUT: A gold-backed token designed to track the value of physical gold on blockchain-based markets.
  • Perpetual contract: A crypto derivatives product with no expiration date, allowing traders to hold positions continuously.
  • Trading volume: The total value of an asset or contract traded over a set period, often used to measure market activity and liquidity.