A Whale Long Position in Gold Preference has been established on xyz:GOLD, with trading volume on Hyperliquid for this contract approximately 12 times that of PAXG.

By: theblockbeats.news|2026/02/03 19:02:44

BlockBeats News, February 3rd, according to Hyperliquid Official Data, in the platform's gold-related contracts, the trading activity of the synthetic asset xyz:GOLD is significantly higher than that of the physically anchored token PAXG. Its 24-hour trading volume is about 12 times that of PAXG, reaching $410 million, and the contract's open interest also reached $170 million, more than twice the open interest of PAXG. The specific data comparison is as follows:

PAXG (Paxos Standard, 1:1 backed by physical gold): 24-hour trading volume of about $34.5 million, open interest of about $77.7 million, supporting up to 10x leverage.

xyz:GOLD (Gold synthetic asset deployed by TradeXYZ via HIP-3): 24-hour trading volume of about $410 million, open interest of about $170 million, supporting up to 20x leverage.

In addition, Hyperliquid is significantly ahead of other platforms in the total open interest of gold contracts, but its trading volume is still significantly lower than that of Binance. The latter's PAXG contract has a trading volume of about $940 million in the past 24 hours, an open interest of about $154 million, supporting up to 75x leverage.

Furthermore, according to Hyperinsight monitoring, whether due to xyz:GOLD's or its lower overall cost, better order book depth, and other reasons, the whale positions currently longing with PAXG on the Hyperliquid platform are generally less than $4 million, while the long positions of xyz:GOLD are noticeably larger.

-- Price

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