PANews reported on March 20th that, according to The Block, JPMorgan analysts pointed out that decentralized exchange Hyperliquid has recently seen a surge in activity as non-crypto traders seek exposure to oil prices through perpetual contracts during traditional market closures and weekends. Trading volume for WTI crude oil perpetual contracts on the platform surged during weekends coinciding with the escalation of the Iran war, peaking at approximately $1.7 billion per day in mid-March, with open interest rising to approximately $300 million, making it the exchange's third-largest trading product after Bitcoin and Ethereum.
Analysts say demand for traditional assets outside of trading hours is driving interest in decentralized exchanges (DEXs) like Hyperliquid. With features such as on-chain order books, sub-second transaction finality, and portfolio margining, DEXs are positioning themselves as professional-grade trading venues bridging traditional and crypto markets. While recent momentum has slowed, this trend is expected to continue and may extend to other assets. Traditional financial exchanges are also moving towards 24/7 trading, but typically do not offer the perpetual contracts or high leverage common to DEXs.


