Kraken’s U.S. Perp Expansion: Can Regulated Derivatives Steal Volume From On-Chain Perps?
CFTC approval of Kalshi’s BTCPERP and Kraken’s June 15 U.S. perps launch sharpen the race with on-chain venues. We map where volume could shift next.
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CFTC approval of Kalshi’s BTCPERP and Kraken’s June 15 U.S. perps launch sharpen the race with on-chain venues. We map where volume could shift next.
May 2026 RWA perp volume hit $211B as CEX stablecoin spot slid to $883B, redirecting liquidity to derivatives and on-chain venues. What is driving the shift?