TLDR
- HYPE climbed above $45, reaching its highest level in five months.
- The token gained more than 20% over the past week before easing near $43.4.
- Hyperliquid oil contracts ranked among the platform’s most traded markets.
- WTI crude posted over $840 million in 24-hour volume on the exchange.
- HIP-3 builder markets reached about $5.4 billion in daily volume in late March.
HYPE rose above $45 on Tuesday for the first time in five months. The move came as oil contracts stayed among Hyperliquid’s busiest markets. Trading activity in builder-deployed markets also added fresh attention to the platform.
HYPE posts five-month high as weekly gains continue
HYPE climbed more than 20% over the past week. It reached nearly $45 early Tuesday before pulling back. At press time, the token traded near $43.4.
The price move marked HYPE’s highest level since late 2025. The recovery followed a weak period after the token fell from late January levels. The rebound also matched stronger activity across Hyperliquid’s exchange.
Hyperliquid has drawn interest as more traders use its perpetual markets. The platform allows trading around the clock, and that has helped volumes stay firm. HYPE has also benefited as the exchange expands beyond crypto-linked contracts.
Oil contracts remain among Hyperliquid’s most traded assets
Oil markets continued to rank near the top of Hyperliquid’s volume table. The Crude Oil contract generated more than $840 million in 24-hour volume. It ranked as the third most traded market on the exchange.
Brent Crude Oil also stayed active and posted more than $360 million in 24-hour volume. That market ranked fifth on the platform. As a result, two oil contracts remained in Hyperliquid’s top five markets by volume.
The rise in oil trading followed recent geopolitical tension linked to the US-Iran conflict. Traders used nonstop perpetual markets as traditional venues were closed. A Wall Street Journal report said cumulative oil futures volume jumped from $339 million to $7.3 billion within days.
HIP-3 markets add broader trading activity
Hyperliquid’s HIP-3 framework has opened the platform to outside builders. Under that system, builders can deploy perpetual markets on the exchange. Hyperliquid described the feature as ”a step toward decentralizing perp listings.”
That change has helped bring more non-crypto markets to the platform. Commodity and equity-linked contracts have become a larger part of total activity. In March, open interest in builder-deployed markets rose above $1.2 billion.
HIP-3 daily volume reached about $5.4 billion in late March. Market data showed silver, WTI, Brent, and gold among the main drivers. That trend has kept commodity contracts at the center of Hyperliquid’s recent growth.
