Crypto markets closed the weekend with activity spread across derivatives, token sales, regulation and ETF flows.
Summary
- Hyperliquid’s HIP-3 market hit $5.4 billion in macro and commodity futures volume on March 23.
- World Assets sold 239 million WLD for $65 million as WLD traded near all-time lows.
- US Bitcoin Spot ETFs recorded $296.18 million in weekly outflows, ending a four-week streak of inflows.
On-chain commodity trading continued to grow, World Foundation revealed a new sale of WLD, Washington sued Kalshi, and Bitcoin spot ETFs finished the week with net outflows.
On-chain commodity trading remained in the spotlight after Hyperliquid’s HIP-3 market aware a new record on March 23. The venue managed around $5.4 billion in perpetual futures volume in commodities and macro assets. Silver led with $1.3 billion, followed by WTI crude oil with $1.2 billion, Brent crude oil with $940 million and gold with $558 million. Stock index products linked to the Nasdaq and S&P 500 also attracted volume.
Market participants said the trend goes beyond crypto-native traders. Theo’s chief investment officer, Iggy Ioppe, said weekend on-chain oil futures volume now exceeds $1 billion per day, adding that “geopolitics “It doesn’t end on Friday afternoon.”
At the same time, liquidity remains a constraint, and 1inch co-founder Sergej Kunz says traditional venues continue to lead in depth and quality of execution.
World Foundation reveals new WLD token sale
World Foundation saying its token issuance unit, World Assets, completed $65 million in over-the-counter sales of WLD with four counterparties. The first deal took place on March 20 and the average sale price was approximately $0.2719 per token, putting the total at approximately 239 million WLD sold. The foundation also said that those tokens worth $25 million have a six-month lockup.
The disclosure came as WLD was trading near recent lows. Reports on March 29 said the token was near $0.27 after hitting an all-time low of around $0.2444, and an unlock on July 23, 2026 is scheduled to cover around 52.5% of the total supply. World Foundation said the proceeds will support core operations, research and development, orb manufacturing and ecosystem growth.
Kalshi faces new state lawsuit
In regulation, Washington state defendant Kalshi on March 27. Attorney General Nick Brown said the prediction market operator violated state gambling and consumer protection laws by offering contracts tied to sports, elections and other events. The civil suit seeks to stop Kalshi’s operations in Washington, recover money lost by residents and apply civil penalties.
Kalshi responded and said it operates under federal supervision as a CFTC-regulated exchange. Reports said the company decided to move the case to federal court, arguing that there had been “no warning or dialogue” prior to the lawsuit. The case adds to a broader legal fight, in which Nevada and Arizona have also taken action against Kalshi in recent weeks.
Spot Bitcoin ETF reverses course
US Bitcoin Spot ETFs closed the week with $296.18 million in net outflows, ending a four-week streak of inflows. The reversal followed more than $2.2 billion in inflows over the previous four weeks, according to data from SoSoValue.
The weekly outflow came after two consecutive days of withdrawals on Thursday and Friday, including $225.48 million on Friday alone. Total net assets of spot Bitcoin ETFs fell to $84.77 billion, down from more than $90 billion the previous week, while weekly trading volume fell to $14.26 billion from $25.87 billion at the beginning of March.
