Hyperliquid HIP-3 OI Hits Record $1.74B After 25% Weekly Jump

• HIP-3 aggregated open interest reached a record peak of $1.74 billion this Sunday.
• The platform experienced a 25% surge in open interest in just one week, up from $1.39 billion on March 15.
• Trade.xyz dominates the ecosystem, accounting for 91.3% of the total open interest with $1.58 billion.

Record Growth in Permissionless Perpetuals

Hyperliquid's expansion into permissionless perpetual futures tied to tokenized traditional assets has seen rapid acceleration. Approximately six months after the launch of these markets, the aggregated open interest across HIP-3 hit an all-time high of $1.74 billion over the weekend. While the figure saw a slight adjustment to $1.73 billion on Monday, the overall trajectory reflects a significant increase in capital commitment to the platform.

Trade.xyz Market Dominance

Data indicates that Trade.xyz, the platform established by Hyperliquid's tokenization arm Hyperunit, remains the primary driver of this growth. On Monday, the platform reported several performance milestones:

• 24-hour trading volume reached a peak of $5.6 billion.
• The number of unique daily traders climbed to 45,300.
• Leading trading pairs included WTI oil ($1.27 billion volume), Brent oil ($1.04 billion), and silver ($1.01 billion).

Market Drivers and Ecosystem Expansion

The demand for tokenized real-world assets is largely attributed to Hyperliquid's 24/7 trading infrastructure. Unlike traditional exchanges, this allows for continuous price discovery of commodities and equities outside of standard market hours. This became particularly critical during recent geopolitical instability in the Middle East, which triggered significant volatility in energy markets and drove traders toward round-the-clock platforms.

In tandem with the platform's growth, the native HYPE token has seen strong market performance. The token is currently trading at $38.3, representing a 30.6% increase over the past 30 days. Looking forward, the ecosystem is preparing for the launch of HIP-4, which is currently in the testnet phase and will introduce permissionless prediction markets to the protocol.