Silve trade sends crypto coin Hyperliquid soaring

The convergence of new and old financial worlds became crystal clear yesterday with the sharp rise in the value of the cryptocurrency Hyperliquid, or Hype. This was mainly because more and more investors are no longer buying silver futures on traditional investment platforms, but are rather buying them on crypto platforms, which are much easier and (in some cases) cheaper. Hyperliquid’s platform has become very popular in this manner.

When it was announced that silver futures were now the third most traded product on the crypto platform, after Bitcoin and Ether of course, Hyperliquid’s price rose by 20% in just a few hours.

Beijing premium

Silver is arguably the most sought-after precious metal of the moment, especially in China.

Silver’s record rally is being fueled by increasing physical demand combined with speculative interest in a relatively overheated market, with buyers in China appearing to be the driving force.

Prices in Asia’s largest economy are higher than comparable prices in London, where global prices are normally set. Investors are already calling this the “Beijing premium” for silver, analogous to the “Kimchi premium” for Bitcoin in South Korea a few years ago (back then, you typically paid 5% more for the same Bitcoin in Seoul than you would in New York).

The success of silver futures is also making decentralized investment platforms increasingly popular. New investors on the Hyperliquid platform are not only buying Bitcoin and Ether, but also a huge number of silver futures.

It’s still important to watch out for that blow-off peak for silver prices that analyst Peter Brandt has been predicting for a while now.