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Hyperliquid HIP-3 Open Interest Hits Record $1.43 Billion

Platform data shows the WTI crude oil perpetual contract (a futures-like crypto derivative without expiry) generated $1.39 billion in 24-hour volume, ranking second on Hyperliquid behind Bitcoin and ahead of Ethereum.

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Terms & Concepts
  • Open interest: The total value of outstanding derivative positions that remain open and have not been closed or settled.
  • Perpetual contract: A futures-like derivative without an expiry date, commonly used in crypto trading to track the price of an underlying asset.
  • HIP-3: A Hyperliquid framework or market category referenced by the platform data in which open interest reached a record level.