Tokenized perpetual swaps hit $31 billion weekly volume on commodities volatility
Commodities led the growth, with oil trading reaching $6.9 billion in weekly volume after geopolitical tensions, while stock perpetual swaps grew 908% to roughly $4.9 billion.
What to know:
- Trading in tokenized versions of traditional assets surged in the first quarter, with weekly volume jumping to $30.7 billion and accounting for 1.72% of the crypto derivatives market.
- Commodities led the growth, with oil trading reaching $6.9 billion in weekly volume after geopolitical tensions, while stock perpetual swaps grew 908% to roughly $4.9 billion.
- Perpetual swaps enable round-the-clock trading without expiry dates, appealing to investors seeking 24/7 access to traditional financial markets amid macroeconomic volatility.
Commodities powered the rise. Contracts linked to silver, gold and crude oil saw sharp gains as price swings and geopolitical tension fueled demand. Oil trading alone climbed to $6.9 billion in weekly volume after the U.S.-Israel strikes on Iran started Feb. 28, prompting a surge in round-the-clock oil trading volumes.
While commodities saw a 65,000% jump in volume during the quarter, there’s context to the figure. Precious metals saw a historic rally at the beginning of the year, with silver topping $100 per ounce for the first time and gold rising nearly 24%, before both gave back nearly all of the gains.
Equities saw a similar breakout. Perpetual swaps tied to stocks grew 908% over the quarter to roughly $4.9 billion in weekly volume, BitMEX found.
