Blockchain Market Trades Oil Despite Conventional Closure

The global oil market experienced an unusual phenomenon in February when conventional markets closed due to an aerial assault on Iran. Despite the closure, prices for crude oil continued to move thanks to a little-known market called Trade.xyz.

Trade.xyz is built on top of crypto exchange Hyperliquid and allows speculators to buy and sell blockchain-based oil derivatives around the clock.

The platform's ability to facilitate 24/7 trading has significant implications for global markets. When conventional futures reopened, traders had already spent hours placing bets on the conflict's impact.