Hyperliquid Open Interest Hits Record $16.36 Billion on Expansion Into Stocks, Prediction Markets
Summary
- Hyperliquid's open interest (OI) hit a record $16.36 billion.
- Hyperliquid said the rollout of HIP-3 expanded trading into products including U.S. stocks, gold, crude oil, the S&P 500 and SpaceX.
- Hyperliquid said the launch of prediction markets under HIP-4 and the broader product lineup helped lift open interest.
Forecast Trend Report by Period
Hyperliquid's open interest rose to a record $16.36 billion.
Crypto-focused media outlet BlockBeats reported on September 19 that Hyperliquid's open interest reached $16.36 billion, topping the previous record set on September 18 last year after about a year.
Over the past year, Hyperliquid has expanded beyond crypto perpetual futures into products tracking U.S. stocks, commodities, indexes and the share prices of private companies. Through HIP-3, introduced in October last year, third parties can deposit HYPE and launch their own perpetual futures markets.
HIP-3-based markets trade products tied to U.S. stocks, gold, crude oil, the S&P 500 and private companies such as SpaceX. As of early September, cumulative trading volume in HIP-3 markets had exceeded $548 billion, accounting for about 30% of Hyperliquid's total trading volume over the past 30 days.
In May, Hyperliquid introduced HIP-4 to support prediction market products tied to the outcomes of specific events. In late August, it expanded the framework to allow third parties to launch those markets as well. BlockBeats said the broader product lineup contributed to the increase in Hyperliquid's open interest.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.