Hyperliquid’s HIP-3 markets reached a record $1.43 billion in open interest, extending the platform’s rapid growth in tokenized market activity. Trade.xyz accounted for nearly 90% of HIP-3 open interest and posted about $22 billion in daily volume, indicating that activity in the segment remains highly concentrated. Most of the top HIP-3 markets were tokenized traditional assets tied to the S&P 500, Nasdaq, stocks, gold, silver, and oil. Hyperliquid also announced HIP-4, which is designed to enable permissionless prediction markets, adding a new market category alongside the expansion of tokenized traditional asset trading.