Hyperliquid HIP-3 Market Open Interest Reaches $1.43 Billion, Setting a New All-Time High

KuCoinFlash

Release Time: 03/17/2026 23:25:43

Summary

Hyperliquid's HIP-3 market open interest has surged to $1.43 billion, a new all-time high. The figure has grown more than 100-fold since the market launched six months ago. Trade.xyz, built by Hyperliquid’s Hyperunit division, accounts for 90% of the open interest and 90% of daily trading volume. The platform’s top 30 markets include seven crypto pairs and 23 tokenized traditional assets such as the S&P 500 and gold. Analysts cite 24/7 trading as a key driver, enabling assets to bypass interest rates and traditional market hours.

Odaily Planet Daily report: Data shows that Hyperliquid’s HIP-3 total open interest has reached $1.43 billion, setting a new all-time high. Since the first HIP-3 markets were launched six months ago, this metric has grown more than 100-fold.

Currently, the trading platform trade.xyz, developed by Hyperliquid’s tokenization division, Hyperunit, dominates the market, accounting for approximately 90% of open interest. The platform’s daily trading volume is around $22 billion, also representing about 90% of the overall trading activity under HIP-3.

Notably, among the top 30 trading pairs by volume on trade.xyz, only seven are cryptocurrency asset pairs; the majority are tokenized traditional assets, including S&P 500, Nasdaq indices, individual stock futures, and commodity contracts such as gold, silver, and crude oil.

Analysis suggests that one key driver of HIP-3 market growth is its support for 24/7 trading, enabling traditional assets to transcend conventional market trading hours.

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