Hyperliquid HIP-3 market open interest surpasses $1.43B

Open interest (OI) in the HIP-3 market on the decentralized crypto derivatives exchange Hyperliquid (HYPE) surpassed $1.43 billion on March 14, The Block reported. This figure represents a more than 100-fold increase since the HIP-3 market's launch six months ago. Approximately 90% of the total OI comes from Trade.xyz, a platform built by Hyperliquid's in-house tokenization division, Hyperunit. The outlet noted that only seven of the top 30 markets on Trade.xyz are crypto trading pairs, with the rest being tokenized traditional assets such as the S&P 500, Nasdaq, individual stock futures, gold, silver, and crude oil. The Block explained that the 24/7 operation of the HIP-3 market is a key advantage, helping to expand its user base from crypto-native traders to those focused on traditional assets.