According to CoinMeta, based on data from the data center, on August 25th, the total trading volume of stock-style perpetual contracts on 10 crypto exchanges amounted to 16.847 billion US dollars, which is a decrease of 34.4% compared to the previous trading day (August 24th), with an average of 28.233 billion US dollars over the past five trading days. Among them, Binance had a trading volume of 10.257 billion US dollars (accounting for 60.9%), and Hyperliquid had a trading volume of 2.052 billion US dollars (accounting for 12.2%). The top three stocks in terms of trading volume were SanDisk (SNDK) with 4.833 billion US dollars (28.7%), SK Hynix (SKHYNIX) with 2.521 billion US dollars (15.0%), and Micron (MU) with 1.789 billion US dollars (10.6%). Together, these three accounted for 54.3% of the total trading volume in this sector (16.847 billion US dollars).