JPMorgan: “Hyperliquid sees rising inflows of crude oil futures traders”

JH Kim

Summary

JPMorgan analysts said Hyperliquid, crude oil futures, and the perpetual futures market are attracting attention among traditional-asset traders.
They noted that amid an escalation in the Iran war, trading volume for oil-linked perpetual futures on Hyperliquid surged over a weekend when traditional exchanges were closed.
JPMorgan said the trend reflects a structural shift in which decentralized exchanges (DEXs) are eroding the market share of centralized exchanges (CEXs), and that it is particularly evident at mid-sized exchanges.

Forecast Trend Report by Period

A report has found that the decentralized exchange Hyperliquid is drawing attention among crude oil futures investors.

According to crypto asset (cryptocurrency) industry outlet The Block on the 19th (local time), JPMorgan analysts said in a report that “traditional-asset traders are moving to 24/7 perpetual futures markets to bet on oil price swings during off-hours and on weekends.”

In particular, over a weekend when the Iran war intensified and traditional exchanges such as the Chicago Mercantile Exchange (CME) were closed, trading volume in oil-linked perpetual futures on Hyperliquid was seen to surge.

JPMorgan said this trend is part of a structural shift in which decentralized exchanges (DEXs) are gradually encroaching on the market share of centralized exchanges (CEXs).

It added that the change is especially more pronounced at mid-sized exchanges.