Hyperliquid Sets New Record with $5.2 Billion in Daily Trading Volume, Driven by Silver Surge Translation: Hyperliquid Sets New Record with $5.2 Billion in Daily Trading Volume, Driven by Silver Surge

At the beginning of February, the daily trading volume on the HIP-3 platform of Hyperliquid soared to a record $5.2 billion.

TradeXYZ remains the primary market provider, accounting for nearly 90% of the segment’s turnover. The key instruments include contracts for precious metals, stock indices, and equities.

Silver emerged as the growth engine, with TradeXYZ’s futures on this asset generating $4.09 billion on February 5 (approximately 68% of the total activity on HIP-3). The high volatility of the metal attracted traders seeking alternatives to cryptocurrencies.

By the end of January, the open position volume on HIP-3 hit a historical high of $1.06 billion, with TradeXYZ contributing to 87% of the liquidity.

As of February 10, the indicator stands at around $633 million. Despite this decrease, the monthly growth rate of the metric remains at 88%.

HIP-3 is an enhancement mechanism for the Hyperliquid protocol, which was activated in mid-October 2025. This system enables developers to launch perpetual contracts on any asset, requiring the staking of 500,000 HYPE tokens.

Despite the correction, the excitement surrounding precious metals has transformed the perception of Hyperliquid. The project has evolved beyond the «crypto perpetuals» niche into a versatile platform: gold and silver have established themselves in the top five trading instruments, as noted by analysts at The Block.

Success is evidenced by the numbers. Metal trading volumes on Hyperliquid reached approximately 1% of the figures reported by COMEX, one of the largest commodity exchanges specializing in trading futures and options on precious and industrial metals.

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

Amid the growth of fundamental indicators, the native token HYPE has risen by 16.8% over the past 30 days, despite a deep correction in blue chips. The increase in the coin’s price is also attributed to the implementation of the HIP-4 standard, which anticipates the launch of prediction markets.

It’s worth noting that in early February, Hyperliquid integrated into the Ripple Prime prime brokerage platform.