Hyperliquid HIP-3 market hits record $5.4B daily volume

Trading volume on the HIP-3 market of decentralized crypto derivatives exchange Hyperliquid (HYPE) reached an all-time high of $5.4 billion on March 23, according to data from on-chain platform Artemis. The volume breakdown included: - Silver: $1.3 billion - WTI Crude Oil: $1.2 billion - Brent Crude: $940 million - Gold: $558 million - Nasdaq: $370 million - S&P 500: $271 million The HIP-3 platform has been gaining popularity as it allows anyone to create a market directly on-chain by staking HYPE. Its key advantages include 24/7 operation, unlike traditional financial futures, and a focus on perpetual contracts. The surge in activity comes as trading volume for commodity-based futures has increased significantly amid rising tensions in the Middle East.