HYPE token price surges 24% as silver futures trading volume on Hyperliquid exchange skyrockets.

According to a report by Bijie Network: HYPE is the native token of the crypto derivatives exchange Hyperliquid. As traders increase their bets on major commodities such as silver and gold, the price of HYPE has surged by 24%. Silver futures have seen a 24-hour trading volume exceeding $1.25 billion, making it the third most active market on the platform. The increase in trading activity has pushed up trading fees, half of which are used by Hyperliquid's assistance fund to buy back HYPE tokens on the open market, creating a feedback loop that supports the price. CEO Jeff Yan stated that the platform has become "the world's most liquid crypto price discovery platform."