According to CoinMeta, Binance’s tao / USDT perpetual contracts saw a six-fold surge in trading volume within 10 minutes, with a total trading volume of $533 million over the past 24 hours, representing a growth of 8.58%. A surge in trading volume usually indicates increased market activity or large-scale buying and selling operations by funds, which may be triggered by some important market changes or news announcements. According to media reports and data, Binance’s contract rankings have placed it at number one globally.