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The hyperliquid has emerged as a rare winner amid the sudden escalation of military actions in the Middle East between the United States, Israel and Iran.
Over the weekend, the platform saw a peak in the trading of derivatives focused on commodities, with the volume of open contracts for these assets reaching a high of more than $1.1 billion.
The hyperliquid rose 13% as rising tensions between the US and Iran weighed on markets
This uptrend was attributed to traders trying to hedge geopolitical risks while traditional financial markets were closed over the weekend.
As a result, market participants have turned to the blockchain-based platform for trading synthetic perpetual contracts linked to oil, gold, silver and US stocks.
It is made possible Hyperliquid Improvement Proposal No. 3 or HIP-3an update implemented last year, allows this ongoing marketing.
HIP-3 allows developers to launch permissionless perpetual contract markets for any asset that has a public and reliable price feed, as long as the creator allocates 500,000 native HYPE tokens to the platform.
The weekend’s volatility caused HIP-3’s open contract volume to surpass its previous record of $1.06 billion.
Add Hyper liquid platform in general Almost $5.5 billion in total open contracts, with an estimated $1.06 million in profits for the protocol in 24 hours, according to Data By Devi Lama.
Data provider Messari said the HIP-3 markets generated $4.4 billion in weekend trading volume in February alone.
The platform’s ability to accommodate the trading volume of traditional markets has attracted the attention of prominent industry figures. On the X social platform, Arthur Hayes, co-founder of the cryptocurrency trading platform BitMex, pointed to the structural change in action.
Hayes wrote: Price discovery occurs when traditional trading exchanges are closed… It’s the weekend, events are accelerating, traditional trading exchanges are closed, but Hyperdecoid is open for business.
The absence of compliance checks on the platform could introduce significant legal obstacles in the future.
Offering US synthetic stocks to retail investors without Know Your Customer (KYC) protocols or a registered broker-dealer license poses significant regulatory risks.
These practices may result in the platform being subject to more scrutiny in the future by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission.
The platform’s native token showed a positive response to the flurry of activity over the weekend, despite the looming threat.
Pinkrypto data shows that the price of the hype has risen by 13% in the last 24 hours, trading above $30 at press time. This means that it is the best performing asset among the top 20 cryptocurrencies by market capitalization.
