According to CoinMeta, Binance’s ETH / USDT perpetual contracts saw a five-fold surge in trading volume within 10 minutes, with a total trading volume of $7.981 billion over the past 24 hours, representing a decline of 6.59%. A surge in trading volume usually indicates increased market activity or large-scale capital transactions, which may be triggered by significant market changes or news announcements. According to media reports and data, Binance’s contract rankings have placed it at number one globally.