Oil-linked trading on the decentralized exchange Hyperliquid (HYPE) has 
recently surpassed $1 billion in volume within a 24-hour period, leading to a 
significant 10% rally in the platform’s native token, HYPE, allowing it to 
outperform the top 100 cryptocurrencies by market capitalization. In fact, 
oil-linked trading on Hyperliquid hit over $1.2 billion, making it the second- 
most traded market on the platform, just behind Bitcoin (BTC). Hyperliquid&#8217;s 
Oil Contract Trading Soars The driving force behind the recent HYPE 
performance has been the CL-USDC perpetual contract, which tracks West Texas 
Intermediate crude oil prices. This contract’s trading volume recently 
eclipsed Ethereum (ETH) trading on the platform. Related Reading: Bitcoin At 
The Bottom? The 23-Month Cycle That Has Never Failed The increase in activity 
coincides with a dramatic rise in oil futures, which jumped over 30% to nearly 
$120 a barrel on traditional exchanges. This spike followed escalating 
tensions in the Middle East that have disrupted global supply chains. Before 
these developments, daily volumes for the CL-USDC contract hovered around $21 
million. However, following the recent geopolitical events, that figure 
skyrocketed to more than $1.2 billion as of Monday. Additionally, open 
interest in this contract surged to $183 million. $150 Price Target For HYPE 
Further fueling the excitement surrounding the HYPE rally is a bullish outlook 
from Arthur Hayes, co-founder of cryptocurrency platform BitMEX. In a recent 
essay, Hayes set a price target of $150 for HYPE by August 2026, asserting 
that Hyperliquid can continue to expand its revenue streams even if broader 
cryptocurrency markets experience difficulties. Related Reading: Dogecoin 
Remains Inside Falling Channel, Bulls Target Surge Above $0.1 While HYPE has 
been on the rise, with the token retesting the $35 resistance wall, major 
cryptocurrencies like Bitcoin and Ethereum have shown modest recoveries during 
the same period. Bitcoin gained approximately 2.5%, while Ethereum saw a 
slightly higher increase of 3.4%. Analyzing HYPE’s daily trading chart reveals 
critical support levels that investors should watch. Key support zones are 
anticipated around $32, $29, and $28, with the latter acting as a significant 
accumulation point over the past two weeks. Featured image from OpenArt, chart 
from TradingView.com

What’s Fueling Hyperliquid’s Surge? HYPE Outperforms Top 100 Cryptos In Latest Rally

The partnership aims to reduce fragmentation in European capital markets by 
enabling blockchain-based settlement of tokenized securities.

Nasdaq links EU markets to Boerse Stuttgart’s tokenized settlement venue

Cboe Global Markets is bringing Wall Street’s favorite volatility playbook to 
bitcoin, announcing plans to launch a new index designed to track the market’s 
expected price swings using options tied to the popular Ishares Bitcoin Trust 
ETF. BITVX: Cboe Applies VIX Methodology to Bitcoin ETF Options Market The 
Chicago-based exchange operator explained on Monday that […]

Bitcoin Gets Its Own ‘Fear Gauge’ as Cboe Announces BITVX Index

The insurance broker is piloting stablecoin payments for premiums using USDC 
and PYUSD, testing blockchain settlement rails for faster payments in global 
insurance markets.

Aon tests stablecoin payments for insurance premiums with Paxos, Coinbase

Bitcoin’s rally back to the mid-$73,000 region did not last long as the 
leading cryptocurrency’s price action reversed as the week came to a close and 
fell back around $67,000 after momentarily regaining momentum last week, 
pulling Ethereum down with it till the ETH price also lost the $2,000 price 
level. However, the pullback of these leading cryptocurrencies is the product 
of a few forces colliding at once: a war nobody fully priced in and 
institutions quietly heading for the exits. Here is what happened. Spot 
Bitcoin ETFs: From Boosting Rally To Draining Liquidity One of the clearest 
reasons for Bitcoin’s reversal is that the same ETF complex that helped lift 
the price early in the week suddenly turned into a source of pressure. 
SoSoValue data show that US-based Spot Bitcoin ETFs posted strong inflows at 
the start of the week, including about $458.19 million on March 2, $225.15 
million on March 3, and $461.77 million on March 4. Related Reading: Bitcoin 
Pattern Memory Predicts The Bottom, And It’s Below $40,000 That stretch helped 
Bitcoin climb as high as roughly $74,051 intraday on March 4, but the tone 
changed quickly after that. By March 5, spot Bitcoin ETFs had flipped to a net 
outflow of about $227.83 million, and on March 6, the outflow worsened to 
roughly $348.83 million, showing that institutional demand softened just as 
Bitcoin was testing resistance near the mid-$70,000s. Spot Bitcoin ETFs. 
Source: SoSoValue Unsurprisingly, Ethereum also saw its own exchange-traded 
funds flows deteriorate in tandem with Bitcoin. SoSoValue&#8217;s data show US Spot 
Ethereum ETFs started the week on firmer footing, with $38.69 million in net 
inflows on March 2, led by BlackRock’s ETHA at about $26.51 million. However, 
by the second half of the week, that demand had faded massively. Spot Ethereum 
ETFs recorded about $90.94 million in net outflows on March 5 and another 
$82.85 million in net outflows on March 6, with Fidelity’s FETH alone 
accounting for roughly $67.57 million of the March 6 withdrawal. Spot Ethereum 
ETFs. Source: SoSoValue Profit-Taking And Global Risk Aversion The final piece 
is the macro backdrop. The bounce to $73,000 to $74,000 invited short-term 
traders to lock in gains, especially after Bitcoin ran into a clear resistance 
band and failed to push through decisively. On-chain data shows that more than 
27,000 BTC in profit were sent to exchanges by short-term holders within 24 
hours. Related Reading: XRP Price At $100 Is ‘Inevitable’, Analyst Explains 
Why This Is However, investors are not dealing with only crypto-related 
concerns. Financial markets are still pricing in the conflicts in the Middle 
East. Iran responded to US-Israel attacks by not only firing retaliatory 
strikes but also effectively closing the Strait of Hormuz, a passage for 
roughly one-fifth of the world&#8217;s oil supply. That closure is what truly 
rattled markets. Once Bitcoin lost altitude, Ethereum followed with even more 
force. At the time of writing, Bitcoin is trading at $67,500. Ethereum, on the 
other hand, is trading at $1,975. Featured image created with Dall.E, chart 
from Tradingview.com

Cryptocurrency price in USD