On-chain Crude Oil Trading Volume Surges Over 910% WoW: A Look at How Top Traders are Positioning in US Equities and Commodities

BlockBeats News, March 9th, according to Coinbob Popular Address Monitor data, the trading volume of WTI Crude Oil (CL) on Hyperliquid first exceeded $100 million on March 3rd and entered the top ten, with continued increasing activity. As of today, its 24-hour trading volume has exceeded $9.1 billion, a weekly increase of up to 9110%. Among the top ten trading pairs by volume, US stocks and commodities have taken six seats.

Prior to the market's focus, several well-known on-chain traders and institutions had already positioned themselves in the RWA US stocks and commodities track. Among them:

CBB (X:Cbb0fe): Took a $36.3 million short position on CL (Crude Oil), EWY (South Korean Stock Market), NATGAS (Natural Gas), and a basket of AI industry chain and tech stock shorts, and took a $4.76 million long position on Gold. Possibly aiming for cross-market arbitrage or profit through high-frequency market-making, with an average short position of $78.3 for CL, positions opened on March 4th.

Continue Capital related addresses: Took a $13.5 million long position on NVDA (NVIDIA) and MU (Micron), with a total unrealized loss of $0.96 million. The average holding price for NVDA is $190, with positions opened on November 17th last year.

Sky Innovation RuneKek: Took an $8.7 million long position on CL (WTI Crude Oil) and BRENTOIL (Brent Crude Oil), with a CL long position average price of $92, a floating profit of $0.82 million, positions opened on March 7th. Also took short positions on ETH and NASDAQ 100 (XYZ100) for hedging, with a scale of around $5.4 million.

Abraxas Capital: Took a $26 million short position on GOLD (Gold), with a floating profit of $0.92 million, an average price of $5273, positions opened on January 26th.

Loracle (X:loraclexyz): Took a $7.8 million short position on CL (Crude Oil), with an average price of $92, positions opened on March 7th. Also took a $5.6 million short position on NVDA (NVIDIA) and PAXG (Gold), the current bi-directional positions are temporarily in a loss, with an unrealized loss of $1.1 million.

Ray (X:0xRay518): Opened a long position on NVDA (NVIDIA) on February 18th, with a previous position size of $16.5 million, an average price of $190. Closed the position five days ago at an average price of $178, temporarily exiting the market.

According to monitoring, the rest of the on-chain RWA contract traders have exhibited the following characteristics in their positions: shorting high-premium assets or longing discounted assets during off-market hours; some traders relying on pre-betting events during "non-trading hours"; cross-platform arbitrage with the same underlying asset, or arbitrage among different contracts of the same asset (such as GOLD, PAXG, XAU).