Hyperliquid launched an S&P 500 mapping contract on March 19, with initial trading volume reaching $31.5 million. The S&P 500/USDC pair, deployed via HIP-3, supports up to 50x leverage. Position value rose to $19.6 million as trading activity increased. Trade.xyz facilitated the deployment, and the contract went live overnight. Early trading volume and position growth indicate strong user interest.
ChainThink report, March 19: According to Hyperinsight monitoring, Trade.xyz has deployed the S&P500/USDC trading pair on the Hyperliquid platform via the HIP-3 protocol, with up to 50x leverage supported.
The contract officially launched last night, and as of this writing, the cumulative trading volume has reached $31.5 million, with open interest rapidly rising to $19.6 million.
