Hyperliquid Open Interest Tops $18 Billion, Hits Record High
Summary
- Open interest on global decentralized exchange Hyperliquid rose above $18 billion, setting a record high.
- The cumulative trading volume of the HIP-3 market, introduced in October last year, was nearing $550 billion and accounted for about 30% of trading volume over the past 30 days.
- Hyperliquid has expanded its trading offerings this year to include stocks, commodities and stakes in private companies, and introduced HIP-4 to support prediction-market contracts.
Forecast Trend Report by Period
Open interest on global decentralized exchange Hyperliquid (HYPE) has climbed to a record high.
BlockBeats and other outlets reported on Sept. 23 that open interest on Hyperliquid topped $18 billion that day. It marked the first time open interest on the platform had risen above $18 billion.
Recent gains in major cryptocurrencies, including Bitcoin, appear to have drawn in trading capital. Hyperliquid has also expanded its trading offerings this year to include stocks, commodities and stakes in private companies.
The introduction of HIP-3 in October last year also helped lift trading volume on Hyperliquid. HIP-3 allows third parties to stake Hyperliquid tokens and directly launch perpetual futures markets on the platform. That has led to the creation of markets tied to underlying assets including U.S. stocks, gold and crude oil.
As of earlier this month, cumulative trading volume in HIP-3 markets was nearing $550 billion. HIP-3 markets accounted for about 30% of Hyperliquid's trading volume over the past 30 days.
Hyperliquid also introduced HIP-4 in May to support prediction-market contracts.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul