According to Odaily Odaily, JPMorgan Chase stated that the decentralized exchange Hyperliquid is attracting more and more non-crypto traders, especially users who want to gain exposure to crude oil prices outside of trading hours.
The report points out that during the recent weekend of escalating tensions in the Middle East, traditional markets (such as the CME) were closed, while trading volume of WTI crude oil perpetual contracts on Hyperliquid surged. The contract's daily trading volume reached approximately $1.7 billion, with open interest of around $300 million, making it the platform's third-largest trading instrument, after Bitcoin and Ethereum.
The product is priced in USDC and supports up to 20x leverage, making it attractive to traders seeking efficient exposure.
JPMorgan believes that the growth of platforms like Hyperliquid reflects the rising market demand for "24/7 trading of traditional assets." Unlike DEXs that rely on Automated Market Makers (AMMs), Hyperliquid uses an on-chain order book model, providing more accurate pricing, lower slippage, and a trading experience closer to that of traditional exchanges.
