Hyperliquid crude oil perpetual contracts have a 24-hour trading volume of nearly $1 billion

SmartContractAuditor · 2026-03-12T00:15:57+00:00

As geopolitical tensions rise, crypto traders are beginning to trade oil perpetual contracts on the decentralized platform Hyperliquid, with a 24-hour trading volume of $991 million, far surpassing Coinbase. Brent crude oil prices are highly volatile, and traders are leveraging the continuity of the crypto market for margin trading. The HYPE token price has increased due to the surge in trading activity.

SmartContractAuditor

2026-03-12 00:15:57

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Odaily Planet Daily reports that as geopolitical tensions fluctuate, cryptocurrency traders are turning to decentralized derivatives platform Hyperliquid to trade oil-related perpetual contracts. Data shows that Hyperliquid’s oil perpetual contracts recorded approximately $991 million in trading volume over the past 24 hours, far exceeding the roughly $75,000 trading volume of similar contracts on Coinbase. Due to the Iran situation, Brent crude oil prices experienced sharp fluctuations. Traders leveraged the 24/7 operation of the crypto market to conduct margin trading using USDC collateral during traditional market closures. Additionally, Hyperliquid allocates part of its trading fees to buy back its native token HYPE. The surge in trading activity has also driven up HYPE’s price. (Decrypt)

HYPE4.94%

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