Just how big is Hyperliquid? What’s next after HYPE surges 44%, according to Bitwise

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Hyperliquid present has 100,000 play users and handles $50 cardinal successful play measurement — and the unreserved onchain to stocks and commodities is conscionable getting started, manufacture insiders say.

The burst of trading enactment connected the crypto-native decentralised speech “is getting noticed beyond the crypto community,” Kam Benbrik, caput of probe astatine Bitwise’s onchain division, told DL News.

“Perpetual contracts are structurally superior for commodity trading, and this is wherefore we're seeing specified a precocious measurement connected Hyperliquid,” Benbrik said.

The DEX’s grounds numbers travel arsenic crypto investors person besides pushed Hyperliquid’s autochthonal HYPE token up 44% successful March to conscionable implicit $38 astatine clip of reporting, making it 1 of the champion performing large-cap cryptoassets.

To beryllium sure, HYPE is inactive down immoderate 35% from its September highest of astir $60. However, it is importantly outperforming the likes of manufacture leaders similar Bitcoin, Ethereum, and Solana.

With nary extremity successful show to the US-Israeli warfare connected Iran, traders person travel to beryllium connected Hyperliquid for their play markets fix.

“The main awesome of existent TradFi involvement is the 24/7 angle: erstwhile the situation successful the Middle East deed connected a play and lipid surged, the liquid venue to commercialized the underlying was Hyperliquid,” Benbrik said.

Gold, silver, and lipid perpetuals person already go a large portion of the DEX’s trading volume, alongside cryptoassets similar Bitcoin. And Hyperliquid could perchance adhd different fashionable globally applicable commodities specified arsenic uranium and aluminium, Benbrik said.

“Perpetual futures destruct expiry, rolling, and transportation risk, and that this is simply a structural betterment compared to dated futures for commodity exposure,” helium said. “Those are existent frictions successful accepted commodity futures markets..”

With Brent crude present sitting astatine astir $115 a tube amid continuing disruption astir the Strait of Hormuz chokepoint, Hyperliquid saw good implicit $500 cardinal successful lipid trading measurement connected Sunday.

Benbrik said that HIP-4, archetypal announced successful February 2026, volition beryllium an breathtaking upgrade to Hyperliquid, that “opens the doorway to prediction markets.”

“Users volition beryllium capable to commercialized connected the result of antithetic events straight connected Hyperliquid,” helium said.

“Hyperliquid wants to beryllium the everything exchange: 1 venue wherever immoderate asset, immoderate fiscal outcome, trades 24/7 on-chain.”

Bitcoin is up 1.8% implicit the past 24 hours, trading astatine $67,773.
Ethereum is up 2.9% implicit the past 24 hours astatine $2,060.

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