Tokenized equity activity continues to reach new heights, with Hyperliquid's leading real-world asset platform, TradeXYZ, hitting new all-time highs in volume and open interest this week.
The platform today surpassed the $1 billion mark in 24-hour volume, with open interest reaching an all-time high of $790 million, up 200% from last month.
The breakout in volume and open interest comes amid a continued rally in precious metals, with the SILVER/USDC pair recording $740 million in volume the previous day, nearly triple that of the platform's flagship asset, the XYZ100, represented by Nasdaq futures.
TradeXYZ Assets and Trading Volume – Hyperliquid
The platform adds new pairs every week, with USAR (rare earths) added today and natural gas added on January 21st.
Launched in October, TradeXYZ started taking off in late November after Hyperliquid rolled out a “Growth Mode” upgrade. This reduced fees on the HIP-3 permissionless perpetual market by over 90%, leading to a surge in trading volumes.
Before the growth mode, TradeXYZ had a daily trading volume of $15 million to $80 million, but once the upgrade began in the last week of November, the daily trading volume jumped from $200 million to $500 million.
TradeXYZ Volume – DeFiLlama
Centralized exchanges like Binance are also jumping in, given the demand for permanent stocks and products. Binance today announced the TSLAUSDT pair and reminded users on social media that gold and silver can also be traded on the exchange.
