Hyperliquid Weekend Rises as Traders Bet on Commodities Amid US-Iran Conflict
According to a recent report, Hyperliquid saw an increase in trading volume over the weekend, as it has become a place to bet on commodities and other traditional asset classes. Following the escalation of tensions between the United States, Israel, and Iran, Bitcoin and the crypto market succumbed to significant downward pressure.
However, the crypto market was not the only asset class that saw trader activity on Saturday, February 28, as the futures of the exchange tied to various assets on Hyperliquid also saw significant price action. These measures provide insight into what to expect when global financial markets open on Monday.
Hyperliquid Trading Volume Increases in Traditional Assets
According to the latest market data, the main commodity futures exchange, including oil, gold, and silver, had a big jump in their prices on Saturday. This price increase was initiated by the military actions of the United States and Israel against Iran, who responded this day by targeting certain US assets in the Middle East.
Specifically, the price of oil jumped more than 5%, as Iran threatened to restrict the passage of ships in the Strait of Hormuz. The Strait of Hormuz is a body of water that connects the Persian Gulf with the Gulf of Oman and the Arabian Sea, and controls ~20% of the world’s petroleum liquids consumption.
Status of the Strait of Hormuz:
Reuters is now reporting that Iran has notified ships that it is CLOSING the Strait of Hormuz.
If it is officially shut down, 20+ MILLION barrels of oil PER DAY will be affected, or 20% of the world’s supply.
What’s next? Let’s explain.
(rope) pic.twitter.com/GPFaNVKUsW
— The Kobeissi Letter (@KobeissiLetter) February 28, 2026
Unsurprisingly, this price increase was supported by significant volume, as traders were looking to hedge the risk of war in the Hyperliquid watch perp market. Market data shows that silver led activity among commodities in trading, with trading volume above $227 on Saturday. Meanwhile, the perpetual gold exchange futures recorded a trading volume of about $173 million per day.
The events of the past weekend and the subsequent market activity have also opened the discussion for round-the-clock trading in all asset classes. According to a Bloomberg report, Wall Street is becoming more aware of platforms like Hyperliquid, where users are allowed to create permanent futures tied to a wide range of assets, including equities and commodities.
Jake Ostrovskis, head of commercial at Wintermute, told Bloomberg:
As tensions in the Middle East grew, crypto was traded and because Bitcoin trades 24/7, it became a highly liquid asset for traders looking to hedge or hedge on the go. The fact that BTC acts as a proxy for the broader risk of being the only open market is precisely why additional asset classes, embedded assets and need to move to 24/7 trading. Round-the-clock price discovery is a structural development of market efficiency, and we are headed in the right direction.
Finally, this growing discussion around the clock is associated with recent efforts by major financial institutions to accept tokens.
HYPE Price Jump 20%
As a result of the activity and increased volume, the price of HYPE, the original token of Hyperliquid, enjoyed a recovery of about 20% on Saturday. As of this writing, the cryptocurrency is trading at around $30.5.
The price of HYPE on the daily timeframe | Source: HYPEUSDT chart on TradingView
Featured image from iStock, chart from TradingView
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