HIP-3 open interest tops $2 billion as demand for 24/7 tokenized equity exposure surges
Hyperliquid's HIP-3 markets reached $2.38 billion in open interest, driven by demand for 24/7 tokenized equity and commodity exposure.Summary
Open interest (OI) on Hyperliquid's HIP-3 markets has surged, reaching a record high of $2.38 billion and currently sitting near $2.1 billion. This growth, from $280 million at the start of the year to over $1 billion in less than a month, represents a 580% year-to-date increase, with TradeXYZ accounting for over 90% of this OI.
The platform's popularity stems from traders seeking 24/7 access to equities and commodities outside traditional market hours, facilitated by HIP-3's intermediary-free, crypto-native settlement. Unlike traditional exchanges, HIP-3 offers continuous trading without the limitations of traditional financial incumbents. The platform is also exploring expansion into spot tokenized equities, which could further challenge traditional stock exchanges and potentially accelerate regulatory attention.
Reaching $5 billion in OI is seen as a critical threshold that could attract major market makers currently operating on established exchanges like CME and CBOE.
(Source：The Block)