Hyperliquid oil volume booming thanks to war in Middle East: JPMorgan

JPMorgan noted in a recent report that volatility stemming from the Iran conflict is significantly boosting trading activity on the decentralized exchange (DEX) Hyperliquid, particularly for oil perpetual futures. Non-crypto investors are increasingly using these 24/7 markets, especially when traditional venues like the CME are closed, as seen when infrastructure strikes occurred over a weekend. The Hyperliquid CL-USDC perpetual contract, margined in USDC, reached $1.7 billion in peak daily volume and is now the platform's third most traded product. JPMorgan analysts suggest this trend highlights a growing demand for continuous access to traditional assets, as DEXs offer advantages like non-stop trading, tighter spreads, and capital efficiency, enabling them to capture market share from centralized exchanges.

(Source：CoinDesk)