HYPE Token Rallies 27% as Hyperliquid Hits $500 Million in Oil Trades

• Hyperliquid saw a massive spike as traders piled onto oil-linked bets amid the Iran war.
• Analysts say the platform benefited from the fact that crypto markets operate 24/7.
• RWA trading now makes up as much as 30% of daily volume on the exchange.

Hyperliquid, a decentralized derivatives platform, saw a massive spike on March 16 as traders piled onto oil-linked bets amid the Iran war chaos. Volume topped $500 million in a day, and its token HYPE shot up by about 27%.

With the US, Israel, and Iran firmly locked in conflict, energy markets went haywire. Oil shot past $105, and traders scrambled for fast ways to hedge.

Hyperliquid established itself as a primary venue for such activity, with the decentralized exchange registering:

• Huge volume in oil derivative trades in a single day.
• Surge of inflows from people hedging against the conflict.
• Notable weekly …

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