HYPE climbed to an all-time high of $94.49 on Sept. 19 and was trading around $92.3, up 4.5% over 24 hours. Open interest on Hyperliquid also reached a record $16.36 billion, surpassing the previous high set on Sept. 18, 2025. HYPE’s market capitalization rose to $20.52 billion, ranking it eighth among cryptocurrencies excluding stablecoins. The move came as Hyperliquid broadened beyond crypto perpetual futures through HIP-3 markets tied to stocks, commodities, indexes and private companies, and HIP-4 prediction markets. Cumulative volume in HIP-3 markets exceeded $548 billion by early September, representing about 30% of Hyperliquid’s total trading volume over the preceding 30 days.