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AAVE $92.67 -7.10%
SUI $1.09 -8.71%
XLM $0.1544 -6.37%
ZEC $517.54 -3.79%
BTC $79,089.95 -2.76%
ETH $2,221.38 -3.16%
BNB $673.37 -0.89%
XRP $1.43 -4.63%
SOL $89.22 -3.65%
TRX $0.3516 -0.90%
DOGE $0.1129 -2.65%
ADA $0.2606 -4.36%
BCH $424.60 -2.99%
LINK $10.02 -5.38%
HYPE $44.50 +1.39%
AAVE $92.67 -7.10%
SUI $1.09 -8.71%
XLM $0.1544 -6.37%
ZEC $517.54 -3.79%

contracts

Crude oil prices continue to rise, and the trading volume of Gate crude oil contracts ranks among the top in the market

According to CoinGlass data, Brent crude oil (XBR) is currently priced at $102.78, up 0.68% in 24 hours; WTI crude oil (XTI) is currently priced at $98.45, up 1.33% in 24 hours, with active trading in oil-related contracts. Among them, for XBR, the trading volume on the Gate platform is approximately $5.45 million, ranking first across the network; for XTI, the trading pair XTI/USDT has a 24-hour trading volume of approximately $3.4613 million, maintaining high market attention, reflecting the platform's liquidity and product advantages in the oil derivatives market.In addition, Gate has renamed the trading symbol for the XBR perpetual contract to BZ and officially launched the BZ perpetual contract; at the same time, the trading symbol for the XTI perpetual contract has been renamed to CL and officially launched the CL perpetual contract. This only involves adjustments to the trading symbols, while the contract underlying and trading rules remain unchanged. Gate will further improve the product system for oil derivatives on the platform.Gate contracts have taken the lead in the oil market, pioneering the commodity contract sector, covering XBRUSDT (Brent crude oil) and WTIUSDT (WTI crude oil) perpetual contract trading, providing 24/7 trading, USDT settlement, and up to 100 times leverage, assisting users in cross-market asset allocation and strategic layout in volatile markets.

Wintermute: This increase is clearly driven by leverage, with a surge in open contracts accompanied by a decline in spot trading volume

Wintermute released a weekly market summary stating that the U.S. stock market continued its strong performance, recording a sixth consecutive week of gains, with the Nasdaq index rising 4.5% and the S&P 500 index rising 2.3%, both reaching all-time highs, while small-cap stocks and tech giants strengthened simultaneously. Non-farm payroll data exceeded expectations, with the unemployment rate stable at 4.3%, showcasing a resilient labor market. Despite the turmoil in the Strait of Hormuz, the market viewed it as noise, and the war premium has significantly receded. Iran-U.S. negotiations have returned to square one, with Iran's demands for sovereignty, compensation, and sanctions relief being directly rejected by Trump. This week's CPI data will test the transmission of energy prices to inflation, and with Powell's term ending and Waller taking over, the Fed's June FOMC dot plot will be closely watched.In terms of crypto assets, Bitcoin broke through the $80,000 mark, reaching a peak of around $83,000, marking its first time above the 200-day moving average (for the first time in seven months), but this rise was clearly driven by leverage: open interest surged by $10 billion in one month, while spot trading volume hit a two-year low, indicating a typical short squeeze rather than a healthy breakout. Institutional funding remains supportive, with ETF net inflows of $623 million and trading platform reserves hitting a seven-year low, but short-term risks are high—RSI has entered the overbought zone, and if the squeeze ends without spot trading picking up, Bitcoin's price could quickly retreat.Altcoins have shifted towards personalized narratives, with tokenization and AI computing sectors performing prominently. Overall, in the crypto market, this round of rebound needs to be quickly validated as a true bull market starting point: currently driven mainly by the stock market and leverage resonance, if CPI rises or the Fed's leadership change brings uncertainty, whether Bitcoin can independently hold above $80,000 will become a key confirmation signal.
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