Hyperliquid’s HIP-3 DEXs hit all-time high of $790 million in open interest amid commodities trading boom
Hyperliquid's HIP-3 deployed DEXs reached a record $790 million in open interest, driven by a surge in commodities trading.Summary
Decentralized exchanges (DEXs) utilizing Hyperliquid's HIP-3 upgrade have achieved a new all-time high of over $790 million in open interest, attributed to a significant boom in commodities trading, such as metals like gold and silver. Hyperliquid CEO Jeff Yan claims the platform is now the world's most liquid venue for crypto price discovery, citing tighter spreads for BTC perpetual contracts compared to Binance. HIP-3, introduced in October, allows qualified builders to permissionlessly deploy their own perpetual futures markets on HyperCore infrastructure. The open interest for HIP-3 markets has grown rapidly, increasing from $260 million just a month prior. TradeXYZ currently leads the HIP-3 DEXs with approximately 90% of the total market share.
(Source：The Block)