HYPE token surges 24% as silver futures volume soars on Hyperliquid exchange

HYPE, the native token of crypto derivatives exchange Hyperliquid, surged 24% over the past 24 hours as traders ramped up bets on silver, gold and other commodities. Silver futures, in particular, have exploded in popularity on the platform. During U.S. morning hours Monday, silver traded around $111 and logged over $1.25 billion in 24-hour volume — making it the third most active market on Hyperliquid behind only bitcoin and ether. Open interest in the silver contract has also jumped, rising to more than ...