Key Highlights
- Amid the rise in the trading volume, thanks to the boom in oil prices, Hyperliquid (HYPE) has witnessed a spike of 5% with a market capitalization of $10.02 billion
- The decentralized exchange has also shown a boom in real-world assets, as its trading volume broke records, with its weekend volume crossing $1.4 billion, and open interest surpassed $1.3 billion
- The indicators are showing a strong bullish momentum in the HYPE
On March 16, Hyperliquid (HYPE) price soared 5% to an impressive market capitalization of $10.05 billion, pushing the cryptocurrency price to $39.08.
According to CoinMarketCap, HYPE is trading at around $39.07, with a market capitalization of $10.02 billion and a daily trading volume of around $402 million.
Hyperliquid (HYPE) Soars Amid Tension in the Middle East
One of the major reasons behind the boost in Hyperliquid price is the explosive growth in the trading volume of oil perpetuals on the Hyperliquid decentralized exchange, which has soared to $1.4 billion in just 24 hours. This is the whooping 533% increase, which makes it the second biggest after Bitcoin in trading activity.
The oil prices are rising quickly amid the escalation in the Middle East due to the war between Israel, the U.S., and Iran. This has benefited the overall crypto market. There are no signs that the war will end soon, and this situation is creating geopolitical tensions across the globe. The chaos in the energy markets has increased crude oil prices following the blockage of the Strait of Hormuz.
However, this time, traders decided to shift to a decentralized exchange, which allows them to trade any investment product continuously, without any time limit. Traders are using decentralized exchanges like Hyperliquid to trade oil futures for continuous price swings during hours when traditional exchanges are closed.
The arrival of traders has directly increased the platform’s fee revenue, which in turn boosted buybacks and burns of HYPE tokens. This helped it cover the $316 million offset from a token unlock.
Apart from this, overall network activity has surged, with 24-hour volume soaring to $5.7 billion and open interest soaring above $5.7 billion.
Over the past 2 weeks, RWA trading on Hyperliquid has repeatedly broken records, surpassing $1.3B in open interest and $1.4B in weekend volume.
When traditional markets are closed, Hyperliquid is the premier venue for 24/7 price discovery on oil, metals, indices, and other…
— Hyperliquid (@HyperliquidX) March 12, 2026
Hyperliquid is also seeing a major trend toward real-world assets, with its trading volume recently shattering records, as its weekend volume crossed $1.4 billion, and open interest surpassed $1.3 billion. The traction of tokenized assets is now responsible for 33% of weekly volume and 21% of total open interest, marking a new all-time high.
The decentralized exchange got the HIP-3 upgrade last year, which opens the door for permissionless market listings. It allowed for the rapid deployment of oil, gold, and equity index perpetuals. This brings constant exposure to real-world assets. At the same time, non-crypto trading pairs are now dominating the platform’s top markets.
The overall crypto market is currently showing upward momentum after Bitcoin (BTC) soared above $74,000. The indicators are giving a “strong buy” signal. The 14-day Relative Strength Index (RSI) is at 68, indicating bullish momentum in the cryptocurrency and heading towards overbought territory.
Meanwhile, the Moving Average Convergence Divergence (MACD) is at 0.6. According to technical analysis, the first support is at $37.24, and the first resistance is at $37.68. The current is trading above this support level, with the next resistance level between $39.63 and $40.
All in all, the geopolitical situation and higher crude oil prices are helping HYPE build bullish momentum. This rally is also supported by rising real-world asset volume and fee-based token burns. Apart from this, institutional demand for HYPE is also growing, as evidenced by FalconX’s $500 million investment in HYPE options.
Also Read: Ripple ($XRP) Price Breaks $1.40 as XRPL Assets Cross $1.14B
