Binance Challenges HIP-3 in Oil Futures Market with Growing Share

2026-04-21 23:00

The competition in the oil futures market is intensifying as Binance gains ground against HIP-3. The combined month-to-date (MTD) oil trading volume has reached $42.5 billion, with HIP-3 holding a 56% market share. However, since launching oil futures on April 1, Binance has averaged a 44% market share, increasing to 49.3% since April 9 and peaking at 54% on April 17. Oil trading constitutes 55% of HIP-3's total traditional finance perpetuals volume, highlighting its significance as a competitive battleground for the platform.

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