Hyperliquid’s HIP-3 Volume Share Rises to Nearly 50% of Perpetual Trading

Hyperliquid’s HIP-3 market has seen rapid growth in trading volume, with its share of Hyperliquid’s total perpetual contract trading rising from about 2% at the start of the year to nearly 50% currently. According to Odaily, HIP-3 is a permissionless framework that allows developers to deploy perpetual contract markets on Hyperliquid. The report said the increase has coincided with rising retail interest in on-chain stock trading. It added that the HIP-3 market is currently dominated by TradeXYZ, which has launched markets including XYZ100, a contract tracking the Nasdaq 100 index, as well as single-stock-related contracts tied to companies such as Nvidia and Tesla.