Oil markets are going crazy and one crypto ecosystem has become a go-to destination for speculating on where prices are going next: A blockchain called Hyperliquid saw daily trading volume for a popular oil contract reach a high of nearly $1.7 billion, which is nearly 250 times more volume than the contract saw right before the U.S. and Israel started bombing Iran in late February.
The popularity of Hyperliquid, whose blockchain technology lets traders buy and sell every day around the clock, reflects how the economic impacts of geopolitical conflicts aren’t limited to the 9:30 a.m.-to-4 p.m. weekday hours of stock exchanges.
