TL;DR
- Binance Futures launched perpetual contracts with up to 20x leverage on the shares of five major international companies.
- MARA Holdings leads the listing alongside Tempus AI, IonQ, PDD Holdings, and Merck, despite net losses of $611 million for the BTC miner.
- Tokenized assets on Binance total $581 million. Users are abandoning ETFs and concentrating capital in high-volatility individual stocks.
Binance Futures officially launched perpetual contracts linked to the shares of five major global companies, with a maximum leverage of 20x.
The most notable asset in the listing is MARA Holdings, the Bitcoin mining giant, which joins the platform alongside medical artificial intelligence developer Tempus AI, quantum computing firm IonQ, retail chain PDD Holdings, and pharmaceutical giant Merck. Trading began immediately and is available 24 hours a day, seven days a week.
Binance Bets on MARA
The inclusion of MARA in the listing coincided with a deep business restructuring at the company. According to its latest financial report, the miner recorded a net loss of $611 million while its revenues fell 27% year-over-year.
In that context, the company sold roughly one third of its Bitcoin reserves during the first half of the year, which allowed it to raise approximately $1.6 billion to fund the construction of data centers and artificial intelligence infrastructure. The new perpetual contract therefore represents a bet on the company’s technological transformation rather than a direct alternative to Bitcoin price exposure.
Rotation Toward Concentrated Risk
The launch of these instruments responds to a profound shift in user behavior on the platform. According to data from RWA.xyz, the total value of tokenized stocks on Binance stands at $581 million, although weekly new capital flows have fallen to their lowest level, indicating that practically no one is buying in the current market dip.
Investors have begun to pull money out of more diversified funds, such as the QQQ technology ETF, redirecting it toward individual stocks. The most extreme example was seen in the semiconductor sector: traders fully liquidated their positions in SanDisk and Micron and channeled the resulting $87 million into a single South Korean company, SK Hynix.
This extreme imbalance explains the logic behind today’s listing. Binance users have stopped trusting in broad market performance and are seeking direct exposure to high-tech assets with greater volatility. The new contracts on MARA and the other companies respond to that demand, allowing traders to move large volumes of capital into specific sectors without leaving the platform’s ecosystem.
