Hyperliquid platform is seeing rising trading activity with growing demand for on-chain access to traditional assets, where Hyperliquid’s HIP-3 protocol, a permissionless perpetuals initiative, delivered its biggest single-day weekend trading volume and the strong participation on the tradexyz platform, while the HYPE token also surged.
According to the on-chain analytics research hub, Pine Analytics, “Between November 20th and January 12th, tradexyz volume was relatively flat at about $300M–$500M on weekdays and $50M–$100M on weekends.” With that, on Sunday, the platform reached a record $720 million in single-day trading volume.
Silver Rally and Geopolitical Tensions Drive Activity
Pine Analytics explains that Tradexyz has seen two big waves of trading in the past month. The first major surge in activity was fueled by silver price moves on January 12 and saw prices jump from $85 to $114 in less than two weeks before falling back to $80. This extreme volatility prompted significant retail participation, and the maximum trading volumes for silver contracts on Tradexyz were $460 million on weekends and $4.67 billion on weekdays.
Next, the second surge occurred after the US-Israel vs. Iran conflict began on February 28, which was a weekend, when traditional crude oil markets were closed, prompting traders to move to decentralized platforms, thus Hyperliquid/tradexyz recorded $630M in weekend volume. As the conflict continued, crude oil prices jumped 80%, pushing tradexyz to a new high of weekend trading.
These two surges show that the Hyperliquid platform is helping people trade traditional assets even if they don’t have access to regular banks or stock markets, or when those markets are closed, and the research concluded, “If this pattern continues, which is only showing signs of accelerating, HYPE is positioned very well to benefit from this and continue its strength against other crypto assets.”
With that, Hyperliquid’s native token HYPE saw 2.67% gains in the last 24 hours, and the token is trading at $31.29. Also, the 24-hour trading volume surges over 55%. As this growing platform adoption contributed to the gains seen in HYPE, even though the token remains down around 6% over the past month.
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