Hyperliquid Weekend Trading Volume Tops $11.5 Billion as Onchain Finance Adoption Accelerates

Hyperliquid recorded over $11.5 billion in combined trading volume on Saturday and Sunday, with the crypto perpetuals platform emerging as a key venue for real-world assets including crude oil and tokenized gold, Bitwise Chief Investment Officer Matt Hougan said. The surge of investors into platforms trading tokenized assets during the U.S.-Israel strike on Iran and the subsequent shutdown of major global stock markets has sharply accelerated expectations for "onchain finance," which traditional markets had been expected to adopt at scale in 5 to 10 years. Tether Gold's 24-hour volume climbed above $300 million, and prediction markets Kalshi and Polymarket also saw notable volume increases, with onchain finance becoming the center of the global financial market for much of Sunday based on trading data.