Markets.xyz, a Singapore-based trading platform, reported a significant increase in activity on March 1 as traders used its onchain markets to respond to the weekend’s geopolitical tensions involving Iran, Israel, and the United States. During this period, traditional commodity exchanges were closed, leaving many traders unable to adjust their positions until Monday.

Trading Activity Surges During Weekend Closure

According to the platform, oil, gold, and silver contracts accounted for nearly 47 percent of all trading volume on March 1, as traders sought exposure to macroeconomic and geopolitical risks. The rise in activity was particularly notable given that most traditional exchanges were offline for the weekend.

Markets.xyz’s $USOIL perpetual contract, which tracks crude oil price movements, saw significant use as traders adjusted positions in response to the evolving situation. The platform highlighted that its onchain infrastructure allowed traders to react to breaking news in real time, a feature not available in traditional markets.

Continuous Trading Gains Traction Amid Geopolitical Uncertainty

The weekend tensions in the Middle East underscored the limitations of traditional commodity exchanges, which typically close on weekends. This gap in market activity has become more pronounced as geopolitical events increasingly occur outside of standard trading hours.

Justin Greenberg, Co-Founder and Chief Technology Officer of Markets.xyz, emphasized the growing need for continuous price discovery in macro assets. ‘Traditional market infrastructure was built for a world where geopolitical risk politely waited until Monday morning. That world no longer exists,’ Greenberg said. ‘This weekend is yet another example of the real and growing demand for continuous price discovery in macro assets.’

Markets.xyz operates using a non-custodial model, allowing users to maintain control of their assets while accessing a range of commodities, equities, indices, and interest rates through a single interface. This structure removes some of the traditional barriers associated with commodity trading, such as geographic restrictions and intermediary brokerage layers.

Perpetual Derivatives Expand Beyond Crypto

Perpetual derivatives, originally developed in cryptocurrency markets, have increasingly expanded into macro instruments such as commodities and interest rates. These instruments allow traders to maintain positions indefinitely while tracking the price of an underlying asset.

Unlike traditional futures contracts, which have expiration dates, perpetual derivatives rely on periodic funding mechanisms to maintain alignment between the derivative price and the underlying reference market. Advocates argue that this model provides a continuous venue for price discovery, particularly when traditional exchanges are closed.

Critics, however, note that liquidity in perpetual markets remains smaller than that of established futures exchanges. This can lead to price signals that may not fully reflect the depth of global market participation.

Despite these concerns, the emergence of continuous trading platforms reflects a broader shift in financial market infrastructure. Digital asset markets, which operate on a 24-hour basis, have already set a precedent for real-time access across time zones.

As digital platforms expand into macro assets, the debate over continuous versus session-based trading is expected to intensify among exchanges, regulators, and institutional investors. While some traditional exchanges have introduced extended trading hours, weekend closures remain largely intact due to operational and regulatory constraints.

Markets.xyz, which launched in 2025, has positioned itself as an alternative to traditional exchanges, using blockchain-based infrastructure to support continuous operation. The platform’s model relies on a partnership with Kaiko, a regulated digital asset market data provider, to provide institutional-grade reference prices in a non-custodial environment.

The platform’s rise comes at a time when energy markets are particularly sensitive to geopolitical developments. Events affecting major oil-producing regions can trigger rapid changes in supply expectations, shipping routes, or sanctions policies, which have historically led to significant price gaps when futures markets reopen on Monday.

While continuous digital trading environments may allow some traders to react earlier to such developments, the broader market still relies heavily on traditional exchanges for benchmark pricing and hedging. The increasing use of platforms like Markets.xyz suggests a growing demand for continuous trading infrastructure, particularly in times of heightened geopolitical risk.