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Brazil election outcome could shape the country’s crypto policy direction
CoinGecko says XRP liquidity is spread across eight exchanges with about $30 million in 2% depth
Market Analys
2026-10-02 01:11:00

Small-cap index perpetuals may offer a path out for smaller exchanges and perp DEXs

A PANews market analysis argues that smaller centralized exchanges and perpetual futures DEXs are unlikely to build durable advantages by simply listing more single-name contracts, adding leverage, and using incentives to boost volume. The piece points to a different route: creating in-house, ETF-like index perpetuals tied to small-cap themes or sectors. The argument starts with a comparison from Hong Kong. In August 2026, average daily volume in Hang Seng TECH Index futures reached 154,986 contracts on HKEX, while all single-stock futures combined averaged 4,385 contracts. PANews uses that gap to show how a thematic index can become a more active trading gateway than a long list of individual names. The article says index perpetuals can widen the user base beyond stock pickers to include sector investors, macro traders, and portfolio managers. It also argues that basket products may improve risk warehousing and market depth by diluting idiosyncratic company risk. To support that point, the piece cites CME data on Russell 2000 futures activity and research from BIS and a 2012 study by Small, Wansley, and Hood on ETF liquidity. In PANews’ framing, the real moat is not getting one neglected stock listed before a larger venue does. It is turning scattered small-cap attention into a repeatable market centered on sector exposure, portfolio management, and trading relationships that can keep users coming back.

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Small-cap index perpetuals may offer a path out for smaller exchanges and perp DEXs
Altcoin deposits to exchanges hit 78,000 in seven-day tally, up 160% in two weeks
CryptoQuant says altcoin exchange deposits jumped 160% in two weeks, pointing to possible sell pressure
Bitcoin futures open interest ratio on exchanges falls to a two-year low
South Korea
2026-09-28 22:16:05

South Korea Weighs Legalizing Crypto Market Making as FSC Eyes Stronger Oversight of Exchanges

South Korea’s Financial Services Commission is reviewing whether to permit crypto market making, while also considering a broader shift in how digital asset exchanges are supervised. Yoo Young-joon, director general for digital finance policy at the FSC, said the regulator will examine whether market making and similar mechanisms are needed to improve efficiency and stability in digital asset markets. Under the current Virtual Asset User Protection Act, there is no exemption for market making, meaning the practice can fall under the law’s ban on unfair trading, including price manipulation. Yoo also outlined items under review for the proposed Digital Asset Basic Act, which would form the second phase of South Korea’s crypto legislation. He said core exchange functions such as order matching, token listings, and surveillance for abnormal trades may need to move from self-regulation to public oversight. As an example, he pointed to criticism surrounding the recent listing of yen stablecoin JPYC on Upbit. The token briefly surged to 37.60 won after trading opened on Sept. 17, far above the roughly 8.85 won value of one Japanese yen at the time, before falling back after additional deposit routes were opened. Data released by lawmaker Park Min-gyu showed that 21,219 investors bought JPYC at prices at least 10% above the won-yen rate between Sept. 17 and Sept. 21, spending about 259.9 billion won.

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South Korea Weighs Legalizing Crypto Market Making as FSC Eyes Stronger Oversight of Exchanges