thedefiant.io
Tokenized equity activity continues to scale new heights, with TradeXYZ, Hyperliquid’s leading real-world asset platform, crossing new all time highs in volume and open interest this week.
The platform crossed the $1 billion mark in 24-hour volume today and reached an all-time high of $790 million in open interest, up 200% over the last month.
The breakout in volume and open interest comes as precious metals continue to rally, with the SILVER/USDC pair commanding $740 million in volume over the last day, almost three times the platform’s flagship asset, XYZ100, which represents Nasdaq futures.
The platform adds new pairs weekly, with USAR (rare earth) added today, and Natural Gas on Jan. 21.
Launched in October, TradeXYZ started to take off at the end of November after Hyperliquid rolled out its “growth mode” upgrade, which reduced fees on HIP-3 permissionless perpetuals markets by over 90%, leading to a spike in volumes.
Prior to growth mode, TradeXYZ recorded daily volumes of $15 million to $80 million, and once the upgrade went live in the last week of November, daily volume shot up to $200 million to $500 million.
Given the demand for stock and commodity perpetuals, centralized exchanges such as Binance are also stepping in. Binance unveiled its TSLAUSDT pair today, and reminded users on social media that gold and silver can also be traded on the exchange.