Hyperliquid's HIP-3 Markets Hit Record $4.12B Open Interest

Hyperliquid's HIP-3 markets have reached new heights, crossing $4.12 billion in open interest for the first time. This milestone marks a significant expansion of the platform's activity, with 117 assets seeing increased participation.

The 24-hour trading volume jumped by 229.5% to $4.97 billion, while the number of unique traders rose to 57,000, indicating strong market engagement. However, despite this growth, overall platform open interest has declined from its July highs, with elevated liquidations and concentration risks suggesting continued caution.

Hyperliquid's native token, HYPE, has posted a modest rebound, trading at $55.39 after slipping 30% from its mid-June peak. Broader market trends remain mixed, with total platform open interest declining by over 6% in the past week and liquidations climbing to $18.26 million.