Hyperliquid reported stronger trading activity as total platform open interest rose above $10.2 billion for the first time since October 2025 and June volume increased 34% month over month to about $267 billion, driven mainly by its core crypto perpetuals market rather than HIP-3. Separately, HYPE climbed above $72 on July 6, when Hyperinsight said HYPE open interest exceeded $1.59 billion and 24-hour volume reached $250 million. On-chain and market reports described broad whale participation across Hyperliquid, including large leveraged HYPE longs and shorts, tokenized SK Hynix and Micron positions, and sizable Bitcoin longs and shorts.