Silver Nears $1B in Volume on Hyperliquid as Bitcoin Remains Frozen: Asia Morning Briefing
✍️ Editor: Sudhir Choudhary
📅 January 27, 2026
Silver trading surged sharply during Asian hours, pushing close to $1 billion in notional volume on the crypto-native derivatives platform Hyperliquid, while Bitcoin prices remained largely unchanged, underscoring a divergence between metals-linked activity and broader digital asset markets.
Market data reviewed during the Asia morning session showed heightened interest in silver-linked contracts, coinciding with relatively subdued trading across major cryptocurrencies. Traders and analysts said the move reflected a rotation toward commodities exposure amid persistent uncertainty around global growth, interest rates, and geopolitical risk.
Silver Volume Spikes During Asian Trading
According to publicly available platform metrics, silver-linked instruments on Hyperliquid approached $1 billion in cumulative trading volume within a 24-hour period, a notable increase compared with recent averages. Activity was strongest during early Asian hours, with participation from traders in Singapore, Hong Kong, and South Korea.
Analysts cautioned that while volume has increased, price action in silver remained relatively orderly, suggesting speculative positioning rather than disorderly market stress. Spot silver prices in traditional markets were modestly higher, broadly tracking movements seen late in the U.S. session.
Bitcoin and Crypto Markets Hold Steady
In contrast, Bitcoin showed little movement during the same period, trading within a narrow range as Asian markets opened. Other major digital assets also saw muted price action, with no significant spikes in volatility reported.
Market participants said the relative calm in Bitcoin reflects a wait-and-see posture ahead of upcoming macroeconomic data releases later in the week. Liquidity remained stable, and there were no indications of large forced liquidations or stress across major exchanges.
Why Silver Is Drawing Attention
Silver has increasingly attracted interest from both traditional and crypto-native traders due to its dual role as an industrial metal and a perceived hedge during periods of uncertainty. Demand linked to renewable energy, electronics, and manufacturing has supported longer-term interest, while short-term trading has been influenced by expectations around global monetary policy.
The surge in silver-related trading on Hyperliquid highlights how commodities exposure is expanding beyond traditional futures exchanges and into digital trading venues, particularly during Asian hours when participation in U.S.-based markets is lower.
What Is Known — and What Is Not
Confirmed developments:
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Silver-linked contracts on Hyperliquid neared $1 billion in trading volume.
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Bitcoin prices remained largely flat during Asian trading hours.
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Broader crypto markets showed limited volatility.
Not yet clear:
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Whether elevated silver volumes will persist into European and U.S. sessions.
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How upcoming macroeconomic data may influence metals and digital assets.
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Whether the activity reflects hedging demand or short-term speculative strategies.
Broader Market Context
Asia-Pacific markets opened mixed, with equity futures largely steady and currency markets showing limited movement. Traders said attention remains focused on global interest rate expectations and commodity demand signals from China.
For now, the contrast between rising silver activity and subdued crypto price action underscores a cautious but selective approach among traders as the new trading week unfolds.
Sources:
Hyperliquid public market data; Asian commodities market reports; cryptocurrency price feeds; regional market commentary.
Tags:
Silver, Bitcoin, Hyperliquid, Asia Markets, Commodities Trading, Cryptocurrency
News by The Vagabond News.
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