Phemex Sees Over 300% Surge in Crude Oil Trading Volume Amid Ceasefire Volatility
Phemex Observes Over 300% Increase in Crude Oil Trading Volume Amid Market Volatility
In an unprecedented turn of events, Phemex, a user-centric cryptocurrency platform, announced that its trading volume for perpetual futures of crude oil on the TradFi platform has surged by more than 300% compared to the previous week. This spike in trading activity follows the announcement of a ceasefire between the United States and Iran, which resulted in the largest one-day price fluctuation of oil since the Gulf War in 1991.
Significant Trading Activity on Phemex TradFi
Phemex TradFi provides perpetual futures for both WTI (XTI) and Brent crude oil (XBR), denominated in USDT. Users can trade these contracts 24/7, without an expiration date, thus allowing them to react promptly to geopolitical events without lagging behind traditional market hours.
During the crisis last week, the weekly trading volume in crude oil on Phemex TradFi surpassed $300 million, with the share of this asset in the total TradFi volume quadrupling from about 3% to 12%. On April 7, the daily trading volume for crude oil reached a staggering $85 million, marking a 4.6-fold increase as WTI dropped more than 15% within hours of the ceasefire announcement made outside regular trading hours.
Over the past week, more than 8,000 unique traders engaged in oil contracts, with the count of daily active users surpassing 2,000 for the first time. According to Federico Variola, CEO of Phemex, “Crude oil has transformed almost overnight from a niche product into one of our fastest-growing asset classes. When WTI dropped $12 following the ceasefire announcement, traditional commodity exchanges were closed. Our traders didn’t have to wait; they were already positioned and reacted in real-time to the movement.”
Future of Trading Amid Ongoing Volatility
As volatility across various asset classes continues to be influenced strongly by real-time geopolitical developments, the demand for continuous market access is expected to rise further. The recent substantial increase in crude oil trading on Phemex TradFi underlines a broader shift toward trading infrastructures that are consistently available, making traditional assets accessible via cryptotechnology-based systems.
Phemex aims to expand its TradFi offerings, enabling traders to respond more swiftly, flexibly, and accurately to global events across diverse asset classes.
About Phemex
Founded in 2019, Phemex is a cryptocurrency exchange that prioritizes user experience and is trusted by over 10 million traders worldwide. The platform features both spot and derivatives trading, as well as copy trading and asset management products designed to emphasize user experience, transparency, and innovation. With a forward-looking approach committed to empowering users, Phemex provides reliable tools, inclusive access, and growing opportunities for traders of all levels to thrive and succeed.
For more information, visit Phemex.
.Topics Financial Services & Investing）
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