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’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