Wu said he learned that Binance Research released a report stating that RWA-linked perpetual contracts are absorbing macro events and individual stock trading demand outside of the regular US stock trading hours. After the Fed raised rates, the median price movement range among 16 stock-linked perpetual contracts was equivalent to 97% of the subsequent US stock market opening gap. During the market closure, trading volume reached $1.02 billion. After news related to the SEC’s tokenization exemptions was released, crypto-related stock concept-linked contracts rose in overnight trading. During the S&P index adjustment period, 198 traditional financial asset-linked perpetual contracts recorded $7.25 billion in trading volume over the weekend. In addition, after rumors that Anthropic would delay its IPO appeared, its related perpetual contracts fell by only 0.89%; since September, cumulative trading volume has reached $643 million, already exceeding the total for August.