Hyperliquid's HIP-3 permissionless perpetual contract market achieved a record daily trading volume of $5.2 billion on February 5, marking its highest single-day performance since launching in October 2025. TradeXYZ, the leading market deployer on HIP-3, contributed nearly 90% of this volume through its perpetual contracts on precious metals, stock indices, and individual stocks. Notably, TradeXYZ's silver perpetual contract alone generated $4.09 billion, driven by heightened price volatility that attracted traders seeking alternatives to crypto assets.