Hyperliquid Experience Growth as Oil Prices Approach $100: Insights from Arthur Hayes

As oil prices climb towards $100 due to escalating tensions in the Middle East, Hyperliquid has seen its oil-linked perpetual contracts exceed $1 billion in trading volume.

Key Takeaways

Hyperliquid has achieved over $1 billion in trading for oil-linked perpetual contracts as oil prices approach $100.
The platform is known for its 24/7 trading capabilities, allowing access to RWA trading even when traditional markets are closed.
The native token, $HYPE, has recently surged, with predictions from Arthur Hayes suggesting it could reach $150 by August 2026.
Current geopolitical tensions are driving interest in tokenized oil and could influence market sentiment in both DeFi and TradFi sectors.

Hyperliquid, HYPE

Hyperliquid is rapidly becoming a key platform for trading Real World Assets (RWA), capitalizing on the current geopolitical climate and increasing oil prices. With the ability to trade 24/7 and a growing interest in its native token, $HYPE, the platform is attracting traders looking for alternative ways to engage in markets typically dominated by traditional finance.

Hyperliquid: The Premier Trading Venue

As highlighted in our report earlier this week, Hyperliquid is solidifying its status as a prime trading venue for a new generation of traders. Investors are actively participating in Hyperliquid’s tokenized oil perpetual contracts, as well as metals and other essential assets.

In a recent update on X, Hyperliquid's official account shared that RWA trading on their platform continues to set new records, now exceeding $1.3 billion in open interest and $1.4 billion in weekend trading volume. Amidst the chaos in global geopolitics, traders are increasingly seeking alternatives outside of traditional finance (TradFi) to manage their assets efficiently, as Hyperliquid provides uninterrupted access, even when conventional markets are closed for the weekend.

"Over the past two weeks, RWA trading on Hyperliquid has repeatedly broken records. When traditional markets are closed, Hyperliquid is the premier venue for 24/7 price discovery on oil, metals, indices, and more." — Hyperliquid

The unique advantages of a decentralized exchange (DEX) like Hyperliquid are unmatched during times of rapid change. The platform offers continuous access, permissionless HIP‑3 listings, and the capacity to trade in oil, gold, and equity index perpetual contracts without the need for a broker.

The Surge of $HYPE

Alongside the rising oil prices, Hyperliquid’s native token, $HYPE, has experienced significant growth. In the last 24 hours, HYPE gained over 8%, reaching $37, which is a noteworthy rebound from its previous decline to nearly 50% of its high in September.

This upward trend aligns with the predictions made by BitMEX co-founder Arthur Hayes. On March 9, Hayes expressed his optimistic outlook for $HYPE through an essay on his Substack, arguing that the token could reach $150 by August 2026. His article, titled “$HYPE Man,” positions Hyperliquid as an ideal exchange-token for the volatile landscape of 2026, emphasizing its capacity to generate revenue from trading activity, regardless of market shifts.

Hayes points out that Hyperliquid is one of the top protocols generating fees within the crypto sector, with a large portion of these fees redirected back into HYPE through buyback and burn mechanisms, transforming the token into a strategic investment linked to on-chain derivatives revenue.

According to Hayes, if revenue returns to previous peak levels and the market revalues Hyperliquid at a higher earnings multiple—still below some listed TradFi exchanges—$HYPE could easily approach the $150 mark by mid-2026. He highlights that the growth in macro-linked products, such as oil and gold, traded via HIP‑3, is vital to this growth, as increased oil trading driven by conflict will lead to higher protocol fees and a more robust buyback framework for HYPE.

"My essay on why $HYPE is going to $150 by August 2026."
Read more — Arthur Hayes

The Impact of Global Events on Trading

Ongoing issues such as the conflict in Iran and supply disruptions are reviving traditional “oil shock” strategies just as decentralized finance (DeFi) platforms like Hyperliquid make trading commodity risks viable through tokenization. If conflicts and energy shortages continue, tokenized oil traded on Hyperliquid could have a significant impact on market sentiment and pricing across both DeFi and TradFi spaces.

Hyperliquid, HYPE, HYPEUSDT
Cover image from Perplexity, HYPEUSDT chart from TradingView