Brent crude oil, the global benchmark stands at about $107 per barrel at the time of writing.
Onchain perpetual futures linked to real-world commodities like precious metals and oil have surged in trading volume, signaling an investor rotation from altcoins to commodity-linked digital assets, according to a report published Thursday by digital asset bank Sygnum.
Trading volume for oil and precious metals perpetual futures markets on the Hyperliquid decentralized exchange (DEX) accounts for over 67% of HIP-3 contracts in Q1 2026, also known as “Builder-Deployed Perpetuals,” on the Hyperliquid platform, according to the report.
Previously, indexes accounted for about 90% of HIP-3 trading activity, but this has fallen to about 17%, according to Sygnum.
