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Yesterday, the Malaysian palm oil market fluctuated and fell back, and today it will follow the sharp correction in the crude oil market. The domestic soybean crushing volume has decreased, and the decline in soybean oil inventories is providing support for stronger prices. The Middle East situation remains complex; the plummeting crude oil prices will weaken the speculation around palm oil’s demand for biodiesel. Developments in the Middle East are still a key factor affecting the volatility of sentiment in the oils and fats market. Dragged down by the sharp drop in international oil prices, the domestic oils and fats sector will face significant pressure today. Domestic spot oils and fats remain under pressure at high levels and have weakened along with futures, with both soybean oil and palm oil showing a correction trend.

Foresight News reported, according to Onchain Lens monitoring, Cooker.hl purchased 50,751 HYPE at a total cost of 1.95 million US dollars, with an average purchase price of 38.5 US dollars.

BlockBeats news, on April 8, according to Hyperinsight monitoring, due to the impact of the US-Iran ceasefire, crude oil prices plummeted, leading to a significant passive surge in trading volume for the HIP-3 ecosystem project TradeXYZ on the Hyperliquid platform. The 24-hour trading volume reached $5.01 billion, an increase of 107% compared with the previous day; during the same period, open interest fell back to $1.85 billion, a decrease of 17% from the previous day. The surge in trading volume and contraction of open positions was mainly driven by the sharp pullback of WTI crude oil and Brent crude oil. The combined trading volume of both within the day reached $3.65 billion, with WTI crude oil alone trading $2.42 billion in one day, approximately twice that of Brent crude. Currently, the total trading volume of the two oils has surpassed BTC, making them the most active asset category on the platform.