Hyperliquid Jumps on Margin Upgrade, Oil Trading Frenzy
Hyperliquid’s HYPE token has continued its rally, reaching an intraday high of $35.28 and gaining over 120% in the past year, outperforming major altcoins. This surge coincides with Hyperliquid’s emergence as a primary venue for trading tokenized crude oil, especially after the recent U.S. attack on Iran, with oil trading volume exceeding $1 billion in a day. The exchange is upgrading its portfolio margin feature, improving risk management and increasing safety for larger, volatile positions. Access to this feature will require users to meet certain volume requirements. Hyperliquid’s platform growth is also driven by HIP-3, its permissionless market program, which has expanded beyond crypto to include commodities and equities, such as oil, gold, and the S&P 500. The platform now boasts over $5 billion in open interest, $5.71 billion in daily volume, and $4.06 billion in total value locked, putting it ahead of competitors. Despite broader crypto market volatility and mass liquidations due to rising tensions, HYPE remains robust, cementing Hyperliquid’s reputation as a leading altcoin platform.
