Hyperliquid HIP-3 Record: 5.4 Billion $ Volume

Hyperliquid HIP-3 Hits Record Commodity Volume

Hyperliquid’s HIP-3 market reached an all-time high with approximately $5.4 billion in perpetual futures volume in commodities and macro assets on March 23. Silver led with $1.3 billion, while WTI crude oil recorded $1.2 billion, Brent crude oil $940 million, and gold $558 million. Stock indices like Nasdaq and S&P 500 also saw significant volumes.

HIP-3 Perp Volume. Source: Artemis

1INCH Founder Sergej Kunz Issues Liquidity Warning

Industry participants indicate that this increase shows growing demand for on-chain macro exposure. Theo CIO Iggy Ioppe noted that on-chain oil futures processed over $1 billion in daily volume on weekends when traditional exchanges are closed. Traditional finance traders are participating with individual accounts. However, limited liquidity hinders on-chain markets in competing with traditional mechanisms. 1inch co-founder Sergej Kunz and MEXC Research chief analyst Shawn Young, who provided key insights for 1INCH detailed analysis, highlighted challenges like liquidity depth, spreads, and regulatory clarity. Oil futures on CME reach daily notional volumes of $100-300 billion. This gap reveals that DeFi protocols need to improve depth.

Crude oil futures and volume. Source: CME

1INCH Technical Outlook and Levels

1INCH is trading in a downtrend with RSI at 37.56. Supertrend gives a bear signal, EMA 20: $0.0934.

• Supports: S1 $0.0825 (70/100 ⭐ Strong, -5.39%), S2 $0.0866 (66/100 ⭐ Strong, -0.69%)
• Resistances: R1 $0.0927 (66/100 ⭐ Strong, +6.31%), R2 $0.0873 (62/100 ⭐ Strong, +0.11%)

Check out 1INCH futures for more. Liquidity discussions highlight aggregators like 1INCH.