{"id":94168,"date":"2026-02-11T13:02:29","date_gmt":"2026-02-11T10:02:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=94168"},"modified":"2026-02-11T13:05:23","modified_gmt":"2026-02-11T10:05:23","slug":"hyperliquids-user-market-volume-surpasses-5-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hyperliquids-user-market-volume-surpasses-5-billion\/","title":{"rendered":"Hyperliquid&#8217;s User Market Volume Surpasses $5 Billion"},"content":{"rendered":"<p>In early February, the daily trading volume on the <span data-descr=\"user markets of perpetual contracts\" class=\"old_tooltip\">HIP-3<\/span> platform of <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> reached a record $5.2 billion.<\/p>\n<p><!--more--><\/p>\n<p>TradeXYZ remains the key market provider, accounting for nearly 90% of the segment&#8217;s turnover. The main instruments are contracts for <a href=\"https:\/\/forklog.com\/en\/news\/all-that-glitters-again\">precious metals<\/a>, stock indices, and shares.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/decentralized-finance\/derivatives\/hip-3-daily-volume-by-dex\/embed\" title=\"HIP-3 Daily Volume by DEX\"><\/iframe><\/p>\n<p>Silver has been the growth driver: on February 5, futures for this asset from TradeXYZ accounted for $4.09 billion (about 68% of all HIP-3 activity). The high volatility of the metal attracted traders seeking alternatives to cryptocurrencies.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/decentralized-finance\/derivatives\/daily-hip-3-volume-by-asset\/embed\" title=\"Daily HIP-3 Volume by Asset\"><\/iframe><\/p>\n<p>At the end of January, the open interest volume for HIP-3 reached a historic high of $1.06 billion. TradeXYZ accounted for 87% of the liquidity.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/decentralized-finance\/derivatives\/hip-3-daily-open-interest-by-dex\/embed\" title=\"HIP-3 Daily Open Interest by DEX\"><\/iframe><\/p>\n<p>As of February 10, the figure stands at around ~$633 million. Despite the decline, the monthly growth of the metric remains at 88%.<\/p>\n<p>Despite the correction, the excitement around precious metals has transformed the perception of Hyperliquid. The project has outgrown the &#8220;crypto-perps&#8221; niche, becoming a universal platform: gold and silver have secured spots in the top five trading instruments, <a href=\"https:\/\/www.theblock.co\/post\/389111\/hyperliquids-permissionless-perps-5-2-billion-daily-volume-metals-record-activity?utm_source=telegram1&#038;utm_medium=social\">analysts at The Block noted<\/a>.\u00a0<\/p>\n<p>The success is confirmed by the numbers. The trading volume of metals on Hyperliquid reached approximately 1% of the figures of <span data-descr=\"one of the world's largest commodity exchanges, specializing in trading futures and options on precious and industrial metals\" class=\"old_tooltip\">COMEX<\/span>.<\/p>\n<p>The leading <a href=\"https:\/\/forklog.com\/en\/news\/perp-dex-old-tricks-new-tech\">perp-DEX<\/a> confidently maintains its leadership in the segment, significantly outpacing competitors like edgeX, Aster, and Lighter:<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"471\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-948d37a7da3d343d-6018141516038812-1024x471.png\" alt=\"hyper\" class=\"wp-image-274996\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-948d37a7da3d343d-6018141516038812-1024x471.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-948d37a7da3d343d-6018141516038812-300x138.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-948d37a7da3d343d-6018141516038812-768x353.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-948d37a7da3d343d-6018141516038812-1536x706.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-948d37a7da3d343d-6018141516038812-2048x942.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Perp-DEX ranking. Source: <a href=\"https:\/\/defillama.com\/perps\">DefiLlama<\/a>.<\/figcaption><\/figure>\n<p>Amid the growth of fundamental indicators, the native token HYPE has <a href=\"https:\/\/www.coingecko.com\/\">risen by 16.8%<\/a> over the past 30 days, despite a deep correction of &#8220;blue chips.&#8221; The increase in the coin&#8217;s price was also aided by <a href=\"https:\/\/forklog.com\/en\/news\/hype-token-rises-22-following-new-standard-announcement\">the implementation of the HIP-4 standard<\/a>, which involves the launch of prediction markets.\u00a0\u00a0<\/p>\n<p>Earlier in February, Hyperliquid was <a href=\"https:\/\/forklog.com\/en\/news\/ripple-integrates-hyperliquid-into-prime-brokerage-platform\">integrated<\/a> into the prime brokerage platform Ripple Prime.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In early February, the daily trading volume on the HIP-3 platform of Hyperliquid reached a record $5.2 billion.<\/p>\n","protected":false},"author":1,"featured_media":94169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Hyperliquid's daily trading volume hit a record $5.2 billion in early February.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[609,1823,958],"class_list":["post-94168","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-futures","tag-hyperliquid","tag-trading-volume"],"aioseo_notices":[],"amp_enabled":true,"views":"182","promo_type":"1","layout_type":"1","short_excerpt":"Hyperliquid's daily trading volume hit a record $5.2 billion in early February.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=94168"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94168\/revisions"}],"predecessor-version":[{"id":94170,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94168\/revisions\/94170"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/94169"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=94168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=94168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=94168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}