Hyperliquid Launches First On-Chain S&P 500 Perpetual Futures, HYPE Token Rises Nearly 2% Today

Gate News, March 19 — Hyperliquid has partnered with TradeXYZ to launch the first on-chain S&P 500 (U.S. stock market benchmark index) perpetual contract, which has been authorized by S&P Dow Jones Indices. The contract supports 24/7 trading, marking an important step for Hyperliquid in bringing traditional financial products into the cryptocurrency space.

This launch has positively impacted Hyperliquid's native token HYPE, which rose nearly 2% today, defying the market trend. Since the beginning of the year, HYPE has increased by over 76%, making it one of the best-performing assets among mainstream cryptocurrencies.

Hyperliquid has expanded its business into commodities such as gold and oil. Over the past 30 days, its trading volume reached $182.47 billion, more than double that of its closest competitor.