“Silver futures on the crypto derivatives exchange are currently showing $1.25 billion in volume and $155 million in open interest.”, — write: www.coindesk.com
Silver futures, in particular, have exploded in popularity on the platform. During US morning hours Monday, silver traded around $111 and logged over $1.25 billion in 24-hour volume — making it the third most active market on Hyperliquid behind only bitcoin and ether. Open interest in the silver contract has also jumped, rising to more than $155 million.
Source: Hyperliquid
The sudden spike in activity matters for HYPE holders.
Since October, Hyperliquid has allowed users to create their own perpetual futures markets by locking up HYPE tokens. The trading fees generated from these markets are split 50/50 between the exchange and the market creator.
More trading means more revenue — and under Hyperliquid’s design, the majority of that revenue is used to buy back HYPE tokens on the open market through its Assistance Fund. So as open interest rises, more money is directed towards buying HYPE, creating a feedback loop that can lift the token’s price.
Traders see this as a bullish signal not just for HYPE but for Hyperliquid itself. The surge in commodity interest suggests that crypto derivatives platforms are evolving beyond their usual focus on crypto assets like bitcoin, which has struggled to find direction in recent weeks. That diversification may be positioning Hyperliquid for longer-term relevance.
“Hyperliquid has quietly achieved an important milestone of becoming the most liquid venue for crypto price discovery in the world,” said Jeff Yan, CEO and co-founder of Hyperliquid in a post on X.
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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The president said he isn’t concerned about the dollar’s recent declines, sending the greenback plunging even lower.
- Bitcoin rallied above $89,000 as remarks by President Trump sent the dollar to its lowest level in nearly four years.
- Gold rose to a new record above $5,200 per ounce following the president’s comments.
- One analyst is seeing a bullish technical divergence which could send bitcoin back to $95,000 in short order.
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