HYPE Token Powers Through Third Consecutive Rally
The cryptocurrency market continues to buzz as Hyperliquid’s (HYPE) token extends its rally for a third straight session, recording a surge of over 25% today. This remarkable growth is driven by an unexpected increase in commodity-based trading activity, with Silver futures leading the charge.
Explosive Growth in Commodity Perpetual Contracts
A key factor behind this rally is the growing popularity of commodity perpetual contracts on Hyperliquid, specifically through the HIP-3 expansion. Silver futures, which were recently introduced, have become the platform’s shining star, pushing daily trading volume in commodities to surpass the remarkable $1 billion mark. This massive influx of activity has also introduced a new class of traders to Hyperliquid—those drawn more by macroeconomic factors rather than typical crypto-market volatility.
This trend signifies a growing structural demand for HYPE tokens, as participation in these markets directly increases the fees that sustain the token model’s economic loop. Unlike one-time speculative spikes, the sustained activity across multiple sessions suggests persistent engagement rather than fleeting interest.
Institutional Signals and Market Structure
Recent data from January 28, 2026, show that total open interest (OI) in HIP-3 markets reached $920.9 million, representing some of the strongest growth since the market’s launch. Notably, one contract alone contributed $803.3 million in positioning, reflecting large-scale institutional interest rather than fragmented retail activity. HYPE’s price trends reinforce this bullish sentiment, showing significant accumulation and strength as it approaches the $38 threshold—a crucial resistance level. Breaking this barrier could pave the way for a rally towards the psychological benchmark of $50.
What This Means for Traders
As Hyperliquid’s breakout continues, traders and investors have every reason to remain optimistic. Elevated commodity trading volumes, particularly in Silver, alongside increased participation in HIP-3 markets, underscore the long-term potential for HYPE’s growth. For those aiming to stay ahead of trends, HYPE offers a unique opportunity to capitalize on this momentum.
Our Recommendation for Crypto Enthusiasts
If you’re excited about the potential of Hyperliquid and looking to understand the market better, consider using tools like the TradingView Market Analysis Suite. This platform provides advanced market insights that can help you strategize your positioning when trading assets like HYPE tokens or analyzing the broader crypto market.
As always, conduct your own research and proceed cautiously in volatile markets.
