JPMorgan: Hyperliquid crude oil contract weekend trading volume surged to $1.7 billion as non-crypto investors flocked in

Jinse Finance reported that a JPMorgan report shows that as traders seek 24/7 oil trading exposure, the DEX platform Hyperliquid, based on its own L1 public chain, has seen a surge in activity recently. On the weekend in mid-month when the situation in Iran escalated, its WTI crude oil perpetual contract trading volume peaked at $1.7 billions, with open interest around $300 millions, making it the platform's third largest trading product after bitcoin and ethereum. Analysts pointed out that this contract offers USDC margin and up to 20x leverage, attracting non-crypto investors to trade during weekends when traditional markets are closed. It is reported that Hyperliquid uses an on-chain limit order book and sub-second finality, featuring professional trading functions and is expected to continuously capture demand from gaps in traditional markets.