APIA, Samoa, April 9, 2026 /PRNewswire/ — phemexAn early adopter crypto exchange, reported that crude oil perpetual futures volume on its TradFi platform increased more than 300% week over week, as the ceasefire announcement between the United States and Iran triggered the largest single-day oil price swing since the 1991 Gulf War.
Phemex TradFi offers WTI (XTI) and Brent crude oil (XBR) USDT-settled perpetual futures, available 24/7, with no expiration date, allowing traders to react to geopolitical events regardless of traditional market hours. Weekly crude oil trading volume on Phemex TradFi surpassed $300 million, with the asset’s share of total TradFi volume quadrupling from about 3% to 12% during the week of the crisis. On April 7, daily crude oil volume hit an all-time high of $85 million (a 4.6-fold increase) as WTI plummeted more than 15% within hours of the ceasefire news. More than 8,000 unique traders participated in oil contracts over the past week, and single-day active users surpassed 2,000 for the first time.
“Crude oil has gone from a niche offering to one of our fastest-growing asset classes virtually overnight,” he said. Federico VariolaCEO of Phemex. “When WTI fell $12 after the ceasefire announcement, traditional commodity exchanges were closed. Our traders did not have to wait, they were already positioned and capturing the movement in real time.”
As volatility across assets is increasingly driven by real-time geopolitical events, demand for continued market access is expected to grow. Phemex TradFi’s recent rise in crude oil trading highlights a broader shift towards an always-on trading infrastructure, where traditional assets are accessed through crypto-native systems. Phemex will continue to expand its TradFi offering, enabling traders to respond to global events with greater speed, flexibility and accuracy across all asset classes.
About Phemex
Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million traders worldwide. The platform offers spot and derivatives trading, copy trading and wealth management products designed to prioritize user experience, transparency and innovation. With a forward-thinking approach and commitment to user empowerment, Phemex offers trusted tools, inclusive access, and evolving opportunities for merchants of all levels to grow and succeed.
For more information, visit: https://phemex.com/
