Hyperliquid Native altcoin trading contracts, while activity in stock-related assets overtakes

AT A GLANCE

Hyperliquid Trading in altcoin contracts contracted, while more stock-related contracts became active,HIP-3 with their trading share rising to 36.6%。

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Hyperliquid Altcoins retreat across the board as stock-related trading activity overtakes

BlockBeats reported that October 26 recently Hyperliquid overall platform-wide trading has cooled. While native crypto trading has contracted sharply,HIP-3(primarily U.S. equities and commodities) has risen again; crypto sector trading data show that the room for altcoins has been severely squeezed by a very small number of leading assets such as HYPE、ZEC.Hyperliquid’s asset trading landscape is rapidly tilting toward traditional assets.

According to TradingBeats monitoring, since September after altcoin market activity picked up, the number of high-volume altcoin assets has continued to decline sharply, while stocks, stock indices, and stock ETF-related contracts have become more active than altcoins.

As of this afternoon, in the past 24 hours, altcoin contracts with trading volume exceeding 10000000 USD numbered 13, while stock-related assets numbered 23. Lowering the threshold to 5000000 USD, the respective figures were 21 and 31, excluding commodities such as crude oil and gold.

From September the peak of activity to the present, altcoin trading has contracted significantly.

Using September 7 as the starting point of the altcoin rally, the trading volume of the platform’s native altcoin contracts over the past 24 hours was approximately 2088000000 USD；September 24 rising from the peak of activity to 4108000000 USD, and now stands at only approximately 1254000000 USD, down approximately 40%from the former and approximately 69.5%。

from the latter. Over the same period, the number of altcoin assets with trading volume exceeding 10000000 USD increased from 27 to 38, before falling to 13 currently; the number exceeding 5000000 USD increased from 35 to 52, then fell to 21. The cooling in trading has already manifested in a narrowing range of active assets.

Remaining trading is becoming increasingly concentrated in a small number of tokens.

HYPE and ZEC recorded trading volumes of approximately 24 hours of 294000000 USD and 290000000 USD, respectively, for a combined approximately 584000000 USD, accounting for 46.6%of all native altcoin trading, higher than September 24’s 38.7%. Adding NEAR and SOL, the combined share of the reaches 65.7%。

. Excluding HYPE and ZEC, the remaining native altcoin contracts recorded combined trading volume of only approximately 670000000 USD; over the same period, stock, stock index, and stock ETF-related contracts totaled approximately 1222000000 USD, approximately 1.82 times the former.

However, total altcoin trading including HYPE and ZEC remains slightly higher than stock-related contracts. Stock-related assets currently have broader coverage, while altcoin trading is becoming more dependent on leading tokens.

Key points

As of October 26 afternoon, during the past 24 hours, altcoin contracts with trading volume exceeding 10000000 USD numbered 13, while stock-related assets numbered 23.
Lowering the trading-volume threshold for the past 24 hours to 5000000 USD, altcoin contracts and stock-related assets numbered 21 and 31, respectively, excluding commodities such as crude oil and gold.
The trading volume of the platform’s native altcoin contracts over the past 24 hours fell from approximately September 24 in 4108000000 USD to approximately 1254000000 USD currently, a decline of approximately 69.5%。
HYPE.ZEC and 24 recorded combined trading volume of approximately 584000000 USD over the past hours, accounting for 46.6%。
Excluding HYPE and ZEC, the remaining native altcoin contracts recorded total trading volume of approximately 670000000 USD; stock, stock index, and stock ETF-related contracts totaled approximately 1222000000 USD, approximately 1.82 times the former.
Including HYPE and ZEC, total altcoin trading volume still slightly exceeded that of stock-related contracts.
October 19 to 25, average trading volume across the platform was approximately 7564000000 USD, of which native crypto contracts accounted for approximately 4795000000 USD、HIP-3 approximately 2769000000 USD；HIP-3 trading share rose from approximately 21.2%to 36.6%。

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Overall platform trading is cooling, but altcoin contract activity has contracted more noticeably. More stock-related contracts now meet the higher trading-volume threshold, indicating that their active coverage has surpassed that of altcoins; however, if HYPE and ZEC are not excluded, total altcoin trading volume remains slightly higher. Altcoin trading is also becoming increasingly concentrated in a small number of assets.

Why it matters to readers

These data reflect changes in the trading structure on Hyperliquid: the trading volume and active coverage of native altcoin contracts narrowed, while HIP-3 and stock-related contracts increased their share of trading on the platform.

Beginners can monitor total trading volume, the number of assets that meet the trading-volume threshold, and the share of leading assets simultaneously; a decline in total volume, fewer active assets, and rising trading concentration indicate that market activity and participation breadth are contracting.

Risks and unknowns

The article states that the data came from TradingBeats monitoring, but provides no link to the original monitoring data or independent cross-validation.
The available data can only describe trading changes during the periods listed and cannot confirm whether this structural change will persist.
“Stock-category trading activity overtaking” primarily refers to the number of active assets; including HYPE and ZEC, total altcoin trading volume still slightly exceeded that of stock-related contracts.

Hyperliquid Native altcoin trading contracts, while activity in stock-related assets overtakes

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