Hyperliquid Ranked 5th Globally in Crypto Assets by Open Interest

The decentralized futures exchange Hyperliquid (Hyperliquid) governance token HYPE has been ranked 5th globally among crypto assets (cryptocurrencies) based on open interest (OI).

On the 16th (local time), CoinDesk stated, "Hyperliquid has become the fifth largest crypto asset by perpetual futures open interest," adding, "the global Hyperliquid futures open interest has approached $2.06 billion." It continued, "This level is higher than the $1.83 billion recorded by Dogecoin (DOGE)," and further commented, "The fact that Hyperliquid secured the 5th position ahead of crypto assets with higher market capitalization is evidence that the market is focusing on purpose-driven projects."

CoinDesk also mentioned Hyperliquid's investor-friendly moves. The outlet noted, "Hyperliquid uses 92% of protocol revenue for token buybacks," and reported, "This has added continuous buying pressure to the market and amplified investor interest."