Hyperliquid Open Interest Surges Past $14.6B, HYPE Token Hits Record High

Total open interest on Hyperliquid has surged to $14.6 billion, nearing the pre-October crash level of $14.7 billion.

The token's price also reached a new record high at $89.63 on September 6, following a 50% monthly gain in value.

This growth can be attributed to several factors, including the introduction of the HIP-3 system, which allows permissionless tools and has contributed significantly to open interest growth.

However, it's worth noting that HIP-3's share of total open interest has decreased from 34% in August to 25% currently.