Trading activity in crypto derivatives contracts tied to traditional assets has risen notably. According to Hydromancer data, a silver-linked perpetual contract on Hyperliquid has reached a cumulative trading volume of $28.28 billion, while an oil perpetual contract has logged nearly $400 million in volume since launching in January this year. Flowdesk OTC trader Karim Dandashy said Hyperliquid has served as a “price discovery” venue on weekends, and open interest in futures tied to traditional assets has h ...