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
Warden Protocol suspected to have run away, token price has plummeted 90% since launch
Gate News Report, March 7 — According to community user feedback, Warden Protocol (WARD) appears to have rug pulled, with its token price plummeting 90% since being listed on a certain CEX Alpha section. It is reported that Warden Protocol was previously positioned as an intent-driven modular blockchain network, later shifting towards AI-related narratives. The project previously claimed that all three co-founders had backgrounds at a certain CEX.
GateNews15m ago
Dogecoin faces a risk of sharp decline as selling pressure increases
Dogecoin (DOGE) records its second consecutive decline, trading around $0.090 as of Saturday. Previously, this meme coin reached its weekly high of $0.104 on Wednesday. However, the rapid rally was halted as the market entered a period of volatility.
TapChiBitcoin1h ago
March 7, 2026 Top Trending Coins Overview, the top three in popularity are: Freysa, UnifAI Network, Banana For Scale
GateNews2h ago
Trump states: Iran will only cease fire if they "unconditionally surrender"! Middle East conflict escalates, oil and the dollar soar, Bitcoin drops to $68,000
U.S. President Trump strongly demanded Iran's "unconditional surrender" and ruled out any negotiations, leading to intensified Middle East conflict, with the clash spreading to multiple countries and causing heavy casualties. As a result, global markets became volatile, oil prices surged to nearly two-year highs, inflation fears intensified, the dollar appreciated significantly, and investor sentiment remained subdued.
動區BlockTempo2h ago
Market Report: Top 5 cryptocurrencies by decline on March 7, 2026, with Humanity Protocol experiencing the largest drop
GateNews2h ago
