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🔥Crude oil prices plunge, causing TradeXYZ trading volume to double and open interest to sharply drop: combined oil trading volume exceeds BTC, reaching $3.65 billion
On April 8, according to Hyperinsight monitoring, driven by the US-Iran ceasefire, crude oil prices plunged, leading to a surge in trading activity for TradeXYZ, an HIP-3 ecosystem project on the Hyperliquid platform. The 24-hour trading volume 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 the narrowing of open interest were mainly due to the sharp pullback in WTI crude oil and Brent crude oil. In a single day, their combined trading volume totaled $3.65 billion—WTI crude accounted for $2.42 billion, approximately twice that of Brent crude. Currently, the combined trading volume of the two oils has already surpassed BTC…
#btc #hype