Daily trading volume for crude oil-related CL-USDC contracts on Hyperliquid has surpassed $1.2 billion, making it its second-largest trading market.

PANews reported on March 10th, citing Bloomberg, that as escalating conflict in the Middle East disrupts global supply chains, the CL-USDC contract, which tracks WTI crude oil perpetual contracts, saw trading volume surpass $1.2 billion in the past 24 hours on the Hyperliquid cryptocurrency exchange, becoming the platform's second-largest trading market after Bitcoin. This contract tracks West Texas Intermediate (WTI) crude oil prices, which rose to $107 per barrel on Sunday, providing a real-time pricing signal for the escalating situation in Iran hours before Wall Street opened. Coinglass data shows that nearly $75 million in short positions were liquidated over the past day as prices rose. The contract's daily trading volume surged from approximately $21 million before the US-Israel strikes against Iran, with open interest reaching $183 million.