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Hyperliquid’s HIP-3 Market Reaches Record $1.2 Billion in Open Interest

Hyperliquid’s HIP-3 Market Reaches Record $1.2 Billion in Open Interest

Hyperliquid’s HIP-3 trading volume surged to $10.8 billion in 24 hours, driven by strong inflows into tokenized futures on traditional assets amid extended U.S. stock trading and market volatility.

USDC
HYPE

Fact Check
The claim is directly supported by a specific news report from BlockBeats (flash/335285) which cites Hyperinsight data showing the $1.83 billion volume. This is further contextualized by CoinDesk's reporting on the extreme volatility and high trading interest in Hyperliquid's oil contracts during the same 48-hour window.
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Summary

Hyperliquid’s HIP-3 permissionless perpetual futures market hit a recent high with $10.8 billion in 24-hour trading volume, reflecting robust demand for tokenized futures on equities and commodities like crude oil. Other decentralized perpetual exchanges recorded under $3 billion daily volume, according to DefiLlama data on March 10. The market continues to see substantial open interest of $1.2 billion, with top contracts including XYZ100-USDC and CL-USDC.

Terms & Concepts
  • Perpetual Futures: A type of futures contract without an expiry date that allows continuous leveraged trading.
  • Tokenized Futures: Derivative contracts that represent tokenized exposure to underlying assets like commodities, equities, or cryptocurrencies.
  • Open Interest: The total value or number of outstanding derivative contracts that remain unsettled in the market.