User market volume on Hyperliquid exceeds $5 billion - ForkLog: cryptocurrencies, AI, singularity, the future

# The turnover of user markets on Hyperliquid exceeded $5 billion

In early February, the daily trading volume on the HIP-3 platform Hyperliquid reached a record $5.2 billion.

The key market provider remains TradeXYZ, accounting for nearly 90% of the segment’s volume. The main instruments are contracts on precious metals, stock indices, and stocks.

The growth driver was silver: on February 5, futures on this asset from TradeXYZ generated $4.09 billion (about 68% of all HIP-3 activity). The metal’s high volatility attracted traders seeking an alternative to cryptocurrencies.

At the end of January, the open interest on HIP-3 hit a record high of $1.06 billion. 87% of liquidity was provided by TradeXYZ.

As of February 10, the figure is around $633 million. Despite the decline, the monthly growth of the metric remains at 88%.

Contrary to the correction, the excitement around precious metals has transformed the perception of Hyperliquid. The project has outgrown the niche of “crypto pumps,” becoming a versatile platform: gold and silver have secured a place in the top 5 trading instruments, according to The Block analysts.

The success is confirmed by the numbers. The trading volume of metals on Hyperliquid reached approximately 1% of the COMEX figures.

The leading perp-DEX confidently maintains its leadership in the segment, significantly surpassing competitors like edgeX, Aster, and Lighter:

Perp-DEX rating. Source: DefiLlama. Amid the growth of fundamental indicators, the native token HYPE has increased by 16.8% over the past 30 days, despite a deep correction of “blue chip” assets. The rise in the coin’s price was also facilitated by the implementation of the HIP-4 standard, which involves launching prediction markets.

Recall that in early February, Hyperliquid was integrated into the prime broker platform Ripple Prime.