Hyperliquid, a decentralized perpetual futures trading platform, has introduced HIP-3, a significant upgrade that enables permissionless market creation. This innovation allows any builder to launch their own perpetual futures markets on-chain, provided they stake a substantial amount of HYPE tokens as collateral. The stake ensures builders remain honest and aligned with the protocol's interests.
The chart provided by The Block illustrates the market share of HIP-3 volume compared to Hyperliquid's total perpetuals volume. This data highlights the growing adoption and impact of the HIP-3 upgrade within the Hyperliquid ecosystem.
As of Saturday, November 14, 2026, the price of Hyperliquid's native token, HYPE, stands at $70.19, reflecting a 3.11% decrease. Despite this price fluctuation, the platform continues to gain traction, as evidenced by its recent performance metrics.
Hyperliquid has also surpassed several major exchanges, including Bybit, Kraken, and OKX, in terms of open interest, with a notable 80% growth in positions during Q3. This surge underscores the platform's expanding influence in the decentralized finance (DeFi) space.