Hyperliquid now has 100,000 weekly users and handles $50 billion in weekly volume — and the rush onchain to stocks and commodities is just getting started, industry insiders say.

The burst of trading activity on the crypto-native decentralised exchange “is getting noticed beyond the crypto community,” Kam Benbrik, head of research at Bitwise’s onchain division, told DL News.

“Perpetual contracts are structurally superior for commodity trading, and this is why we’re seeing such a high volume on Hyperliquid,” Benbrik said.

The DEX’s record numbers come as crypto investors have also pushed Hyperliquid’s native HYPE token up 44% in March to just over $38 at time of reporting, making it one of the best performing…