APIA, Samoa, April 9, 2026 /PRNewswire/ — Phemex, a user-first crypto exchange, reported crude oil perpetual futures volume on its TradFi platform jumped more than 300% week-over-week after the US-Iran ceasefire announcement sparked the largest single-day oil price swing since the 1991 Gulf War.

Phemex TradFi offers WTI (XTI) and Brent (XBR) perpetual futures settled in USDT, available 24/7 with no expiry, allowing traders to act on geopolitical moves outside traditional market hours. Weekly crude oil trading on Phemex TradFi topped $300 million, and oil’s share of total TradFi volume rose from roughly 3% to 12% during the crisis week. On April 7, daily crude volume reached an all-time high of $85 million — a 4.6x increase — as WTI plunged more than 15% within hours of the ceasefire news. Over the past week, more than 8,000 unique traders engaged in oil contracts, and single-day active users exceeded 2,000 for the first time.

“Crude oil has gone from a niche offering to one of our fastest-growing asset classes virtually overnight,” said Federico Variola, CEO of Phemex. “When WTI dropped $12 after hours on the ceasefire announcement, traditional commodity exchanges were closed. Our traders didn’t have to wait; they were already positioned and capturing the move in real time.”

As cross-asset volatility increasingly reflects real-time geopolitical developments, demand for continuous market access is expected to grow. Phemex says the surge in crude oil trading underscores a shift toward always-on trading infrastructure, where traditional assets are accessed via crypto-native systems. The exchange plans to expand its TradFi offerings so traders can respond to global events with greater speed, flexibility, and precision across asset classes.

About Phemex
Founded in 2019, Phemex is a user-first crypto exchange trusted by over 10 million traders worldwide. The platform provides spot and derivatives trading, copy trading, and wealth management products designed around user experience, transparency, and innovation. Phemex aims to deliver reliable tools, inclusive access, and evolving opportunities for traders at every level.

For more information, visit: https://phemex.com/

APIA, Samoa, April 9, 2026 /PRNewswire/ — Phemex, a user-first crypto exchange, reported that crude oil perpetual futures volume on its TradFi platform surged over 300% week-over-week after the US‑Iran ceasefire announcement triggered the largest single-day oil price swing since the 1991 Gulf War.

Phemex TradFi offers WTI (XTI) and Brent (XBR) perpetual futures settled in USDT, available 24/7 with no expiry dates, enabling traders to react to geopolitical events outside traditional market hours. Weekly crude oil trading volume on Phemex TradFi exceeded $300 million, and the asset’s share of total TradFi volume quadrupled from about 3% to 12% during the crisis week. On April 7, daily crude oil volume reached an all-time high of $85 million — a 4.6x spike — as WTI plunged over 15% within hours of the ceasefire news. More than 8,000 unique traders participated in oil contracts over the past week, with single-day active users surpassing 2,000 for the first time.

“Crude oil has gone from a niche offering to one of our fastest-growing asset classes virtually overnight,” said Federico Variola, CEO of Phemex. “When WTI dropped $12 after hours on the ceasefire announcement, traditional commodity exchanges were closed. Our traders didn’t have to wait, they were already positioned and capturing the move in real time.”

As cross-asset volatility is increasingly driven by real-time geopolitical developments, demand for continuous market access is expected to grow. Phemex TradFi’s surge in crude oil trading underscores a broader shift toward always-on trading infrastructure, where traditional assets are accessed through crypto-native systems. Phemex will continue expanding its TradFi offering to enable traders to respond to global events with greater speed, flexibility, and precision.

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 focused on user experience, transparency, and innovation. For more information, visit: https://phemex.com/

APIA, Samoa, April 9, 2026 /PRNewswire/ — Phemex, a user-first crypto exchange, reported that crude oil perpetual futures volume on its TradFi platform surged over 300% week-over-week after the US-Iran ceasefire announcement triggered the largest single-day oil price swing since the 1991 Gulf War.

Phemex TradFi offers WTI (XTI) and Brent crude (XBR) perpetual futures settled in USDT, available 24/7 with no expiry, enabling traders to react to geopolitical events outside traditional market hours. Weekly crude oil trading volume on Phemex TradFi exceeded $300 million, and the asset’s share of total TradFi volume quadrupled from roughly 3% to 12% during the crisis week. On April 7, daily crude oil volume reached an all-time high of $85 million — a 4.6x spike — as WTI plunged more than 15% within hours of the ceasefire news. More than 8,000 unique traders participated in oil contracts over the past week, with single-day active users topping 2,000 for the first time.

“Crude oil has gone from a niche offering to one of our fastest-growing asset classes virtually overnight,” said Federico Variola, CEO of Phemex. “When WTI dropped $12 after hours on the ceasefire announcement, traditional commodity exchanges were closed. Our traders didn’t have to wait; they were already positioned and capturing the move in real time.”

As cross-asset volatility increasingly responds to real-time geopolitical developments, demand for continuous market access is expected to grow. Phemex TradFi’s surge in crude oil trading underscores a broader shift toward always-on trading infrastructure, where traditional assets are accessed through crypto-native systems. Phemex plans to continue expanding its TradFi offering to give traders faster, more flexible, and precise ways to respond to global events across 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. Phemex delivers reliable tools, inclusive access, and evolving opportunities for traders at every level.

For more information, please visit: https://phemex.com/