Ripple news: Oil, silver trading is way more popular than XRP, SOL on Hyperliquid

Traders on the decentralized exchange Hyperliquid are showing a strong preference for perpetual futures tied to commodities like oil and silver over major cryptocurrencies XRP and Solana (SOL). In the past 24 hours, WTI and Brent crude futures saw a combined volume exceeding $500 million, with silver alone accounting for over $412 million, significantly outpacing XRP ($31 million) and SOL ($176 million). This trend is driven by high volatility in commodities, particularly crude oil, which has surged over 45% this month due to geopolitical risks like disruptions in the Strait of Hormuz. This activity highlights Hyperliquid's growing role in commodity price discovery, especially when traditional markets are closed. Despite this, Bitcoin and Ether perpetuals remain the most traded assets on the platform. Analysts at Goldman Sachs have raised their near-term oil price forecasts due to ongoing supply concerns.

(Source：CoinDesk)