Overview
- With U.S., European and many Asian markets closed after President Trump's late‑night Iran strike announcement, traders shifted to crypto venues for live pricing.
- Bloomberg cited Hyperliquid’s crude‑oil perpetual as the most relevant gauge, and the exchange recorded a sharp surge in volume.
- Hyperliquid’s native token HYPE gained roughly 30% over the weekend as activity concentrated on the platform.
- Tether’s tokenized gold XAUT surpassed $300 million in 24‑hour volume, and prediction markets Kalshi and Polymarket set weekend records.
- Bitwise CIO Matt Hougan called it the first time he has seen blockchain venues effectively act as the market and said institutions need stablecoin wallets, while legacy moves like Nasdaq’s 23/5 hours still fall short of round‑the‑clock access.