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Hyperliquid’s HIP-3 Market Hits Record $1 Billion Open Interest

The decentralized exchange reports unprecedented HIP-3 trading activity, with $4.8 billion in daily volume as of February 2.

HYPE

Summary

Hyperliquid, a decentralized crypto trading platform, announced on February 2 that its HIP-3 market reached a record $1 billion in open interest. According to a statement cited by BlockBeats, 24-hour trading volume for HIP-3 hit $4.8 billion, marking a significant milestone in the market’s growth and reflecting heightened trader engagement.

Terms & Concepts
  • Open Interest: The total number of outstanding contracts in a market at a given time, indicating trader commitments.
  • Trading Volume: The total value of all traded assets in a market over a specific period, commonly used to gauge liquidity.
  • HIP-3: A specific trading market or asset class on the Hyperliquid decentralized exchange.