Hyperliquid HIP-3 market open interest reached $1.43 billion, driven by 24/7 trading in tokenized stocks and commodities.

The total open interest in Hyperliquid's HIP-3 markets reached a record $1.43 billion last Saturday, more than 100 times the initial HIP-3 market launch. Trade.xyz, developed by Hyperunit, Hyperliquid's tokenization arm, accounts for nearly 90% of the HIP-3 open interest, with a daily trading volume of $22 billion. Of Trade.xyz's top 30 markets, only 7 are cryptocurrency trading pairs; the rest are tokenized traditional assets, including S&P 500, Nasdaq, and individual stock futures, as well as commodity contracts such as gold, silver, and crude oil. The HIP-3 markets support 24/7 trading and provide price discovery during traditional exchange closures, attracting traders who previously lacked such venues. The HYPE token has risen more than 50% year-to-date, while Bitcoin has fallen about 15% over the same period. Hyperliquid also recently announced the launch of HIP-4, which will support permissionless prediction markets.