Hyperliquid oil-linked perpetrators cleared more than $1 billion as crude oil spiked toward $100 amid unrest in the Middle East.
Hyperliquid: “The Place To Be”
As we reported last Monday, Hyperliquid continues to cement its reputation as “the space where it happens” for a new class of traders focused on Hyperliquid’s tokenized oil perpetuals, as well as metals and other “essential assets.”
In a post on social network As indicated on Monday, this time of extreme geopolitical chaos seems to have finally outgrown TradFi, as traders look for alternatives to trade as quickly as the turmoil demands: hyperliquid is always available, even if the traditional futures markets close this weekend.
Over the past two weeks, RWA trading on Hyperliquid has repeatedly broken records, surpassing $1.3 billion in open interest and $1.4 billion in weekend volume.
When traditional markets are closed, Hyperliquid is the premier location for 24/7 price information on oil, metals, indices and other…
— Hyperliquid (@HyperliquidX) March 12, 2026
The structural benefits of a DEX like Hyperliquid can’t be matched when rapidly changing circumstances evoke equally volatile feelings: 24/7 access, permissionless HIP-3 listings, and the ability to look at oil, gold, and stock index offenders without broker intervention.
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The rise of HYPE
Hyperliquid’s native token, $HYPE, has recovered along with oil: HYPE rose more than 8% in the past 24 hours to reach $37 dollars, a big improvement from its previous drop of almost 50% from its high in September last year.
This increase is in line with the predictions of BitMEX co-founder Arthur Hayes. On March 9 Hayes shared an essay about his Substack and argues why he believes $HYPE will go to $150 in August 2026. The piece, titled “$HYPE Man,” describes Hyperliquid as the standout exchange token play for a volatile 2026, as it generates income from trading activities regardless of the direction of the market. Hyperliquid is one of the largest fee-generating protocols in cryptocurrency, and Hayes argues that roughly most of these fees are routed back to HYPE via buybacks and burns, turning the token into a direct bet on on-chain derivatives income.
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Hayes believes that, assuming sales climb back toward peak levels and the market is willing to revalue Hyperliquid to a higher profit level that is still below some TradFi listed exchanges, $HYPE could rise around $150 by mid-2026. According to him, the growth of macro-linked products such as oil and gold, listed via HIP-3, is central to this uptrend, as greater war-induced oil flow on Hyperliquid means more protocol fees and a stronger buyback engine for HYPE.
My essay on why $HYPE will go to $150 by August 2026.
— Arthur Hayes (@CryptoHayes) March 9, 2026
The war with Iran, the tanker incidents and supply fears are reviving the classic ‘oil shock’ playbook, just as DeFi venues like Hyperliquid are making commodity risk tradable via tokens. If conflicts and energy shocks persist, tokenized oil on Hyperliquid could increasingly influence sentiment and prices in both DeFi and TradFi.
HYPE'S price trends to the upside on the daily chart. Source: HYPEUSDT on Tradingview
Cover image of Perplexity, HYPEUSDT chart from Tradingview