Hyperliquid’s HIP-3 logged its highest daily volume to date, driven by TradeXYZ’s silver perpetuals amid commodity volatility, highlighting intensified derivatives market activity.
On February 5, 2025, Hyperliquid’s HIP-3 decentralized trading market reached a record $5.2 billion in daily volume, the highest since its October 2025 debut. TradeXYZ was responsible for nearly 90% of this activity, with silver perpetual contracts alone contributing $4.09 billion, fueled by sharp commodity price movements.