CoinMeta data: According to statistics conducted by Wu's team, the total trading volume of derivatives on major exchanges in September 2026 was approximately 3.84 trillion US dollars, which represents a increase of about 9.4% compared to 3.51 trillion US dollars in August 2026. The sample covered 12 exchanges, with 8 showing an increase and 4 showing a decrease from the previous month. In terms of trading volume, the top three were Binance with 1.78 trillion US dollars (46.5%), OKX with 698.8 billion US dollars (18.2%), and Bybit with 405.6 billion US dollars (10.6%). In terms of market concentration, the top three accounted for approximately 75.3% of the total, which is higher than the 74.7% in August. As for the ratio of contract to spot trading volume, it was 5.51x in September 2026, a decrease of about 19.8% compared to 6.87x in August 2026.