Hyperliquid's HYPE Token Rises Amid Surge in Tokenized Oil Trading

Hyperliquid's token HYPE experienced a notable increase, reaching an intraday high of $35.28. According to NS3.AI, this rise coincided with the decentralized exchange's tokenized crude oil perpetuals achieving $1.39 billion in 24-hour trading volume, positioning it as one of the top markets alongside Bitcoin. The increased oil trading activity is attributed to traders seeking energy exposure amid rising global tensions. Hyperliquid reported over $5 billion in open interest and more than $4 billion in total value locked. Additionally, Hyperliquid announced that its portfolio margin system will transition from pre-alpha to alpha for smaller accounts, while its HIP-3 permissionless markets recently achieved $1.2 billion in open interest.