Hyperliquid HIP-3 Trading Volume Reaches Around $1.5 Billion Daily

Hyperliquid HIP-3 Trading Volume Reaches Around $1.5 Billion Daily

Hyperliquid’s HYPE token surges amid record HIP-3 open interest, booming precious metals trades, and forthcoming Kraken listing, highlighting strong DEX liquidity and market dominance.

HYPE

Fact Check
The assessment is 'likely_true' with high confidence based on strong, consistent, and direct evidence from multiple sources. The most compelling piece of evidence is a high-authority (0.80) and highly relevant (0.90) article from Yahoo Finance that explicitly references 'Daily HIP-3 trading volume' matching the claim. This is corroborated by two other direct sources: a Binance Square post and a trending topic on X.com, both of which restate the ~$1.5 billion figure. Although these corroborating sources have lower authority, their consistency strengthens the claim. Crucially, the X.com source points to a potential primary data origin ('flowscan.xyz/hip-3'), suggesting the figure is based on a verifiable data dashboard and not just journalistic repetition. There is no conflicting evidence presented; sources that do not support the claim are irrelevant because they discuss different metrics (e.g., monthly volume, token price, competitor data) rather than contradicting the specific daily volume figure for HIP-3. The convergence of a high-authority source with corroborating secondary sources, and the absence of any contradictory information, makes the statement highly probable.
Summary

Hyperliquid’s HYPE token rose over 58% in the past week, with its price reaching around $34 after a 27% daily gain. The surge comes alongside HIP-3 open interest hitting a record $790 million, up from $260 million a month ago, driven by a boom in commodities trading, particularly silver, which saw over $1 billion in daily volume. Co-founder Jeff Yan stated the DEX is now the most liquid venue for crypto and TradFi perps. Stakeholder Henrik cited diminished selling pressure, strong demand—including from Hyperliquid Strategies—and an upcoming Kraken listing as bullish factors. The DEX ranks in the top five globally by daily fees, most of which fund HYPE buybacks.

Terms & Concepts
  • HIP-3: A trading product on the Hyperliquid decentralized exchange that allows users to launch custom perpetual markets for cryptocurrencies, commodities, and stocks.
  • Decentralized Exchange (DEX): A blockchain-based marketplace that enables direct peer-to-peer trading of cryptocurrencies without intermediaries.
  • Open Interest: The total number of outstanding derivative contracts, such as futures or perpetuals, that have not been settled.