Svmuu News Hyperliquid HIP-3 market's total open interest reached a record $1.43 billion last Saturday, representing an increase of over 100 times compared to when the first HIP-3 markets were launched. Trade.xyz, developed by Hyperliquid's tokenization division Hyperunit, accounts for nearly 90% of HIP-3's open interest, with a daily trading volume of $22 billion.
Only 7 of Trade.xyz's top 30 markets are cryptocurrency trading pairs; the rest are tokenized traditional assets, including stock futures for the S&P 500, Nasdaq, and individual stocks, as well as commodity contracts for gold, silver, and crude oil. The HIP-3 market supports 24/7 trading, providing price discovery functionality during traditional exchange off-hours, attracting a trader demographic previously lacking such trading venues.
The HYPE token has risen over 50% year-to-date, while Bitcoin has fallen approximately 15% over the same period. Hyperliquid recently also announced the launch of HIP-4, which will support permissionless listing of prediction markets.