Hyperliquid Sets New Record High in Open Interest at $18 Billion

Global decentralized exchange Hyperliquid (HYPE) has set a new record high in open interest, surpassing $18 billion. This milestone follows recent gains in major cryptocurrencies such as Bitcoin. The platform's expanded offerings, including stocks, commodities, and stakes in private companies, have attracted significant trading capital.

The introduction of HIP-3 in October last year has contributed to the surge in trading volume. As of earlier this month, cumulative trading volume in HIP-3 markets was nearing $550 billion, accounting for about 30% of Hyperliquid's trading volume over the past 30 days. The platform's innovative approach to creating markets tied to underlying assets has been a key factor in its growth.

In May, Hyperliquid introduced HIP-4 to support prediction-market contracts. This expansion has further solidified the platform's position as a leading player in the decentralized exchange space.