PANews February 11 News, according to The Block, the permissionless perpetual contract market HIP-3 of the decentralized derivatives protocol Hyperliquid set a daily trading volume record of $5.2 billion on February 5, the highest level since its launch in October 2025. This trading volume was mainly contributed by the mainstream market provider TradeXYZ deployed on HIP-3, which accounts for nearly 90% of the trading share through precious metals, stock indices, and individual stock perpetual contracts. On February 5, TradeXYZ’s silver contract had a daily trading volume of $40.9 billion, approximately 68% of the total HIP-3 trading volume that day, indicating that price fluctuations in precious metals are attracting traders to seek alternative assets outside cryptocurrencies.
The surge in HIP-3 trading volume began in the last week of January, when gold first broke through $5,000 per ounce and silver surpassed $100. However, both metals subsequently experienced historic corrections of about 20% and 30% within a single day. Before the price corrections, open interest in HIP-3 also hit a record of $1.06 billion, with 87% coming from TradeXYZ; currently, open interest is approximately $665 million, an 88% increase week-over-week.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
IoTeX Bridge Exploit Drains $8M After Private Key Compromise
The IoTeX blockchain faced a major exploit, with over $8M stolen due to a compromised private key. The hacker quickly converted the stolen assets into Ethereum and began transferring them to Bitcoin. While IoTeX reported lower losses than expected, the incident highlights security vulnerabilities in cross-chain bridges.
BlockChainReporter50m ago
Bitcoin Sell Pressure Is Easing, But Whales Keep Dumping on Exchanges: CryptoQuant
Bitcoin deposits on exchanges have decreased significantly, easing sell pressure despite continued activity from large holders. The price has plummeted 46% since its peak last October, indicating potential short-term bearish trends ahead.
Decrypt4h ago
XRP Flashes Bullish Signal With 1,660,000,000 XRP Staked - U.Today
XRP has shown signs of potential recovery after weeks of declines, with a 2.56% increase in open interest in its futures market and a 2.45% price uptick to around $1.45. However, ETF performance remains weak, indicating cautious sentiment among institutional investors.
UToday5h ago
XRP Moves Within $1.41–$1.49 Range Amid Mixed Market Performance
XRP is trading at $1.42 after a 4.3% drop, staying above the $1.41 support level within a short-term range of $1.41 to $1.49. It rose 2.4% against Bitcoin, indicating mixed performance amid market fluctuations.
CryptoNewsLand8h ago
Punch increased by 51.89% after launching Alpha, current price is 0.0386119409101489 USDT
Gate News bot message, Gate market display, since launching Alpha, Punch has increased by 51.89%, current price is 0.0386119409101489 USDT.
CryptoRadar8h ago
