Crude oil plummets, causing TradeXYZ trading volume to double and open interest to sharply decrease: combined oil trading volume surpasses BTC, reaching $3.65 billion

BlockBeatNews · 2026-04-08T05:06:16+00:00

Affected by the US-Iran ceasefire, crude oil prices plunged, leading to a significant increase in TradeXYZ trading volume on the Hyperliquid platform. In the past 24 hours, trading volume reached $5.01 billion, a 107% month-over-month increase. Meanwhile, open interest fell to $1.85 billion, down 17% month-over-month. The combined trading volume of WTI and Brent crude oil surpassed BTC, becoming the most active asset class.

BlockBeatNews

2026-04-08 05:06:16

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BlockBeats news, April 8, according to monitoring by Hyperinsight, due to the U.S.-Iran ceasefire, crude oil prices crashed, leading to a significant, passive surge in trading volume for TradeXYZ, an HIP-3 ecosystem project on the Hyperliquid platform. Trading volume over 24 hours reached $5.01 billion, up 107% month-over-month; meanwhile, open interest fell to $1.85 billion, down 17% month-over-month.

The surge in trading volume and narrowing of open interest are mainly driven by the sharp pullback in WTI crude oil and Brent crude oil. Their combined trading volume during the day was $3.65 billion, including $2.42 billion for WTI crude oil alone, about twice that of Brent. At present, the combined trading volume of these two oils has already surpassed BTC, becoming the most active asset category on the platform.

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