Crypto traders hedge oil and gold on Hyperliquid as global conflict rises. Commodity futures surge while Bitcoin and Ethereum prices fall.
Crypto traders rushed to the platform Hyperliquid as global tensions increased between the United States, Israel, and Iran. Traders used the exchange for hedging oil, gold and silver positions during the weekend market volatility.
Commodity Trading Surges on Hyperliquid During Global Conflict
Hyperliquid emerged as a major trading place because the world markets reacted to geopolitical developments. The platform offers trading opportunities all hours including weekends. Therefore, traders rushed to hedge their positions when tensions were high.
Crypto traders flocked to the Hyperliquid exchange to hedge commodities as the conflict between the US, Israel and Iran erupted https://t.co/qelCgeERhP
— Bloomberg (@business) February 28, 2026
Oil perpetual contracts on Hyperliquid had a huge spike in the trading session. The price of oil futures rose about 6.2% reaching $70.6 per barrel. These contracts are used to speculate on oil prices without having to own the physical commodity.
Meanwhile, precious metals experienced high price gains, as well. Gold-related perpetual contracts rose over 5% in the trading period. The price did go to $5,464 per ounce on the platform.
Silver Futures also moved higher as traders looked for safe assets. Silver contracts went up more than 8% and touched $97.5/ troy ounces. Trading activity was strong, however, with over $400 million of volume recorded around the world in 24 hours.
These movements took place while traditional financial markets were shut. As a result, crypto-based trading platforms became significant places for quick price discovery.
Crypto and Stock Contracts Decline While Safe Assets Rise
While the contracts of commodities rose, there was a different trend with risk assets. Contracts to track major United States stock indexes fell in the same period. Prices for these index contracts dropped between 1 and 2% on the Hyperliquid exchange.
At the same time, some cryptocurrencies that have a large market capitalization also registered declines in their price. The largest digital asset, Bitcoin, fell by about 3.8%. The price dropped to about $63,038 during the reaction in the market.
The second largest cryptocurrency, Ethereum, also suffered a significant drop. Ethereum lost around 4.5% and moved around at $1,836 through the weekend vol.
Due to these declines, the overall value of the cryptocurrencies fell significantly. Estimates indicate that within a short period of time the overall digital asset market cap lost almost $128 billion.
The market behaviour is typical in times of geopolitical uncertainty. Investors tend to park their cash in items like gold and oil. At the same time, riskier investments are generally subject to selling pressure.
24/7 Crypto Markets Become Key Hedging Tool
In some ways, industry participants say, around-the-clock trading is altering the reaction of markets to global events. Crypto platforms keep on running as traditional exchanges are closed. Therefore, they allow for constant access to liquidity and price discovery.
Trading firm Wintermute explained that crypto venues now play an important role in global finance. Because Bitcoin and other exchanges such as Hyperliquid are similarly available for trading all the time, they enable investors to articulate macro views at any moment.
This feature becomes especially important in the case of sudden geopolitical events. Traders can react quickly to change their positions without waiting for stock or commodity exchanges to open again.
In addition, Hyperliquid has recently upgraded its trading capabilities. New upgrades like the HIP-3 framework make it possible to create markets other than cryptocurrencies. As a result, users are able to trade contracts attached to commodities, stocks and other traditional assets.
This development is part of a broader trend, which plays out across the entire financial markets. Many experts feel that global trading systems may someday work on a 24-hour basis. Crypto exchanges already prove how markets can operate 24 hours a day.
For the time being, the surge in trading this weekend is highlighting the increasing role of crypto platforms in times of global crisis. As geopolitical risks continue to rise, the decentralized and crypto-based markets might be used by traders for real-time hedging and price discovery.