Hyperliquid HIP-3 Markets Hit $1.43B in Open Interest

Hyperliquid's HIP-3 markets have reached a significant milestone, with open interest exceeding $1.43 billion on Saturday. This figure is more than 100 times higher than when the first HIP-3 markets launched six months ago. The growth is largely driven by tokenized traditional assets rather than crypto pairs.

Trade(dot)xyz, the platform built by Hyperunit, holds nearly 90% of all HIP-3 open interest, processing roughly $22 billion in daily trading volume. This accounts for approximately 90% of total activity across all HIP-3 markets. Of the top 30 markets on Trade(dot)xyz, only seven are crypto pairs, with the rest consisting of tokenized equity futures, S&P 500 and NASDAQ contracts, individual stock positions, and commodity contracts for gold, silver, and crude oil.

The dominance of non-crypto instruments sets Trade(dot)xyz apart from most other decentralized exchanges. HIP-3 markets operate 24 hours a day, seven days a week, filling the window left by traditional exchanges, which close on weekends and after regular market hours. This has attracted traders who had no prior access to these assets outside standard exchange hours.