Hyperliquid (HYPE): An Explosive Gainer in the Crypto Market
Hyperliquid (HYPE) has emerged as one of the top daily gainers among the 100 largest cryptocurrencies, experiencing an impressive surge of over 22% in just a day. With its price climbing to $33.36 and trading volume skyrocketing by 93% to $800 million, the altcoin is benefiting from a broader market rally. But what’s driving this growth?
Surprisingly, the answer may lie in the unexpected role of silver, as Hyperliquid’s Silver-USDC market has gained significant traction, trading $1.1 billion in volume within 24 hours. This activity places it among the platform’s top-traded assets, alongside Bitcoin and Ethereum.
The Key Driver: Hyperliquid Improvement Proposal 3 (HIP-3)
Much of Hyperliquid’s recent momentum stems from its implementation of the Hyperliquid Improvement Proposal 3 (HIP-3) in late 2025. This innovative upgrade democratized the creation of perpetual futures markets, allowing users to create their own markets by staking at least 500,000 HYPE tokens on the platform’s core infrastructure, HyperCore.
Since HIP-3’s launch, interest in these custom markets has soared. Open interest across HIP-3 markets has reached an all-time high of $900 million, with silver leading the charge as the most actively traded asset. This development has positioned Hyperliquid as a critical hub for unprecedented liquidity and price discovery in the crypto space.
Silver as a Catalyst for Growth
The silver trading frenzy has brought substantial benefits to the Hyperliquid ecosystem. The rising activity in HIP-3 markets bolsters the protocol’s fee revenue, which, in turn, impacts HYPE’s tokenomics. Under HIP-3, fees generated are split evenly between market deployers and the protocol itself.
What makes this dynamic particularly interesting is the associated buyback mechanism. Hyperliquid’s Assistance Fund, which receives 50% of market fees, utilizes these funds to repurchase HYPE tokens from the open market. This buyback mechanism reduces the circulating supply, creating upward pressure on the token price and providing long-term stability.
HYPE’s Bright Future
Analysts project that HIP-3’s fee generation could increase HYPE’s value by as much as 67% this year. With silver becoming a cornerstone for trading activity and Hyperliquid’s innovative economic model driving adoption, the long-term outlook for HYPE appears promising.
Enhance Crypto Trading: Try Ledger Nano X
If you’re exploring cryptocurrency investments, protecting your assets is vital. The Ledger Nano X is a reliable cold wallet designed to store your digital assets securely. With features like Bluetooth connectivity and compatibility with over 1,800 tokens, it’s an excellent way to add an extra layer of safety while trading tokens like HYPE.
Final Thoughts
The intersection of commodities like silver and cryptocurrency is reshaping the trading landscape. Innovations like HIP-3 don’t just facilitate new trading opportunities—they also offer transformative strategies to enhance tokenomics and long-term growth. Whether you’re a seasoned trader or a beginner, keeping an eye on Hyperliquid and its growing ecosystem is well worth your attention in 2023 and beyond.
