Phemex reported a surge in crude oil perpetual futures trading on its TradFi platform following the US‑Iran ceasefire announcement, with weekly volume rising more than 300% week‑over‑week. The move came amid the largest single‑day oil price swing since the 1991 Gulf War.

The exchange’s TradFi suite offers WTI (XTI) and Brent (XBR) perpetual futures settled in USDT, available 24/7 with no expiry, enabling traders to respond to geopolitical events outside traditional market hours. During the crisis week, weekly crude trading on Phemex TradFi exceeded $300 million, and crude’s portion of total TradFi volume climbed from roughly 3% to about 12%.

On April 7, daily crude volume hit an all‑time high of $85 million, a 4.6× increase compared with prior days, as WTI prices plunged more than 15% within hours of the ceasefire news. More than 8,000 unique traders participated in oil contracts over the week, and single‑day active users trading oil surpassed 2,000 for the first time.

Phemex CEO Federico Variola said the product went from niche to one of the platform’s fastest‑growing categories almost overnight. He noted that when WTI fell roughly $12 after the ceasefire announcement, traditional commodity exchanges were closed, while Phemex users were able to trade immediately and capture the move in real time.

Phemex interprets the spike in oil activity as evidence of growing demand for continuous market access as cross‑asset volatility increasingly mirrors real‑time geopolitical developments. The exchange plans to broaden its TradFi offerings so traders can react to global events with greater speed, flexibility and precision across asset classes.

About Phemex
Founded in 2019, Phemex is a user‑focused crypto exchange serving more than 10 million traders. The platform offers spot and derivatives trading, copy trading and wealth management products designed around usability, transparency and innovation. For more information, visit https://phemex.com/.

APIA, Samoa, April 9, 2026 — Phemex reported a dramatic rise in crude oil perpetual futures activity on its TradFi platform after the US‑Iran ceasefire announcement, which triggered the largest single‑day oil price swing since the 1991 Gulf War. Week‑over‑week crude oil perpetual volume rose more than 300% as traders reacted to the geopolitical shock outside regular market hours.

Phemex TradFi lists WTI (XTI) and Brent (XBR) perpetual futures settled in USDT, available 24/7 with no expiry, allowing continuous access when traditional commodity exchanges were closed. Weekly crude oil trading on the platform surpassed $300 million, and the asset’s share of total TradFi volume climbed from roughly 3% to 12% during the crisis week. On April 7, daily crude oil volume hit 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 and traditional commodity exchanges were closed, our traders were able to react in real time.”

Phemex says the surge highlights growing demand for continuous market access as real‑time geopolitical events drive cross‑asset volatility. The exchange plans to expand its TradFi product set to give traders faster, more flexible, and more precise access to traditional assets through crypto‑native infrastructure.

About Phemex
Founded in 2019, Phemex is a user‑first crypto exchange serving more than 10 million traders. 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/