HYPE Price Soars Sharply as Silver Trading Emerges as an Unexpected Catalyst

Jakarta, Pintu News – Hyperliquid (HYPE) price surge has been one of the main highlights in the crypto market in recent days. Amidst the recovery of the global cryptocurrency market, HYPE’s performance seems to be much more prominent than other assets.

This rise coincided with a sharp spike in silver trading activity on the Hyperliquid platform. The data suggests that HYPE’s rally was not simply following general market sentiment, but was driven by specific structural factors.

HYPE Strengthens as Silver Trading Surges

Based on data from BeInCrypto, the price of Hyperliquid (HYPE) briefly broke the level of USD 34 or around Rp568,000, the highest since early December. In 24 hours, the price jumped more than 22 percent, while daily trading volume almost doubled to exceed USD 800 million or around IDR 13.37 trillion. This performance places HYPE as one of the assets with the biggest gains among the top 100 cryptos.

The price increase coincided with an explosion of silver trading activity on the Hyperliquid platform. The Silver-USDC market recorded a volume of around USD 1.1 billion or equivalent to IDR 18.39 trillion in one day. This makes silver the third most actively traded asset after Bitcoin (BTC) and Ethereum (ETH). This phenomenon shows the growing interest in commodities in the crypto derivatives ecosystem.

Also read: February 2026 Solana Price Prediction: Test Resistance Area at $147, Potential Return to $200?

HIP-3’s Role in Driving Volume and Liquidity

The massive silver trading activity is attributed to the implementation of Hyperliquid Improvement Proposal 3 (HIP-3). This upgrade allows anyone to launch a permissionless perpetual futures market by staking a minimum of 500,000 HYPE. Since its activation in October 2025, HIP-3 has significantly expanded the range of assets that can be traded on Hyperliquid. Silver has emerged as the most dominant asset in this scheme.

As HIP-3 adoption increases, open interest in these markets continues to set new records. Total HIP-3 open interest has now surpassed USD 900 million, up from around USD 260 million a month earlier. This surge confirms that HIP-3 is successfully creating new liquidity centers. Silver trading was the main driver of the volume growth.

Read also: Crypto Payments Hit Critical Point: 39% of Merchants Accept Crypto, Big Banks Jump In

Tokenomics HYPE Benefits from Activity Explosion

The surge in trading volume directly impacts Hyperliquid’s tokenomics. In the HIP-3 mechanism, transaction fees are shared equally between the market manager and the protocol. The greater the volume, the higher the fee revenue that goes to the Hyperliquid system. This revenue is then allocated to the Hyperliquid Assistance Fund.

Around 97 percent of the Assistance Fund is used to buy back HYPE on the open market. This mechanism gradually reduces circulating supply and is often seen as supporting prices in the medium to long term.

Crypto institute FalconX even estimates that the additional revenue from HIP-3 could boost HYPE’s potential upside by 67 percent this year. This puts HYPE as one of the tokens with the most direct incentive structure towards user activity.

Follow us on Google News to stay up to date with the latest in crypto and blockchain technology. Check Bitcoin price, usdt to idr and tokenized nvidia stock price through Pintu Market.

Enjoy an easy and secure crypto trading experience by downloading the Pintu crypto app via Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro.

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. How Silver Became an Unexpected Catalyst Behind Hyperliquid’s Price Surge. Accessed January 29, 2026.
• Featured Image: Crypto Economy