JPMorgan: Hyperliquid gaining popularity with crude oil futures traders

The decentralized exchange (DEX) Hyperliquid is gaining popularity among crude oil futures traders, according to JPMorgan analysts. In a report on March 18, the analysts noted that traders from traditional, non-crypto assets are flocking to the 24-hour perpetual futures market to bet on oil price movements during off-market hours and on weekends, The Block reported. As an example, the analysts pointed to a surge in trading volume for oil-linked perpetual futures on Hyperliquid during a weekend of escalating conflict in Iran, a time when platforms like the Chicago Mercantile Exchange (CME) were closed. The report also observed that DEXs have recently begun to erode the market share of centralized exchanges (CEXs), a trend particularly noticeable among mid-sized exchanges.