Altcoin inflow transactions on Binance surged to roughly 34,000 on April 2, the highest reading in nearly three months. However, the spike appeared almost entirely on one exchange, raising questions about what drove it.
Unlike typical altcoin spikes that register across multiple venues simultaneously, this activity did not appear on Bybit, Coinbase, or OKX. That isolation points to a Binance-specific catalyst rather than broad market demand.
Crypto Traders Move From Altcoins to Oil and Gold
CryptoQuant analyst Maartunn flagged the anomaly in a recent analysis. He noted that just one day before the inflow spike, Binance had launched futures contracts tied to commodities like natural gas and WTI crude oil.
Those contracts joined gold and silver perpetuals that Binance introduced in January 2026.
“This shows that the same traders who earlier traded altcoins, might be shifting towards TradFi tickers like stocks and commodities. This move suggest that the reason could be a change from altcoin trading to TradFi trading,” the analyst said.
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RWA Perps Gaining Ground on TradFi Venues
Separate data from Binance Research reinforces the thesis. Over the past 90 days, the average ratio of RWA perpetual volume on Binance to primary TradFi futures surged from 0.2% to 4.9%.
Gold perpetual volume rose from 0.4% of COMEX in January to 3.6% in April, peaking at 8.3% on a single day. Silver averaged 13.6% of COMEX volume and briefly surpassed 20%.
Equity-linked contracts are also gaining traction. Circle (CRCL) reached 12.1% of its NYSE daily volume. Meanwhile, Strategy (MSTR) hit 2.7%, and Tesla (TSLA) registered 0.5%.
“Energy is the newest entrant. WTI at 2.3%, Brent at 1.0%. For context, gold was at similar levels in January. Two months later, it was 10x higher. Worth watching,” Binance Research noted.
The rising interest is further evidenced by surging activity on Hyperliqiuid’s HIP-3 markets. The pattern suggests that crypto-native traders are not stepping away. They are redirecting it toward macro and traditional assets.
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