On January 28, Binance announced the launch of Tesla (TSLA) USDT perpetual contracts, which is the third traditional asset contract launched by Binance after gold and silver contracts.
From gold, silver to US stocks, Binance is quietly completing a highly symbolic asset migration. This means that precious metals and leading US stocks are now competing for funds in the same trading pool as crypto assets.
More exaggerated is the data itself. Currently, the two major on-chain gold tokens $XAU + $PAXG , the total trading volume in 24 hours has reached 1.1 billion USDT.
If ranked as an asset class, it has already surged to the 11th place in total cryptocurrency trading volume, surpassing LTC, LINK, TRON, ADA, SUI, only behind DOGE. This means the trading activity of gold tokens is already higher than most mainstream altcoins.
It's hard to imagine that after all precious metals, US stocks, and commodities are tokenized in the future, how many 'classical crypto assets' will still remain in the top ten trading volumes?
This is no longer 'crypto imitating traditional finance', but traditional assets are invading crypto finance.
The traditional altcoin era is truly about to be overturned by real assets.
The rise of gold tokens, real assets on the blockchain are becoming mainstream, the crypto world is shifting from 'narrative games' to 'real asset games', altcoins are no longer the only vessel for funds.
The launch of Tesla contracts is more like a signal flare.
Why Tesla?
1. Good relationship with Musk
2. Tesla stock is highly volatile, suitable for the trading habits of the crypto world.
Say goodbye to the long wait in the US stock market and enjoy 24/7 trading.
Up to 5x leverage allows you to use less capital to accurately anchor the growth curve of the new energy revolution.
It also supports multi-asset margin, your BTC and ETH can also fuel trading TSLA!
Are you ready for the dual dividends of 'RWA + technology'?
From the perspective of retail investors, this may be a good thing, increasing the variety of opening positions. The downside is for the altcoin market, while the scope of cryptocurrency exchanges is expanding.
The rise of gold tokens, the future of traditional assets on the blockchain is promising.
Binance is becoming a unified exchange for global assets.
This is not just a new product, but a dimensionality reduction attack of blockchain technology on the traditional financial system. The tokenization of real assets (RWA) - gold, stock contracts is just the beginning, and in the future, real estate, bonds, and carbon credits will also go on-chain. The pure altcoin golden age may really be coming to an end.