TLDR
- Hyperliquid HIP-3 open interest reached $1.74 billion on Sunday, up 25% from March 15.
- Open interest eased slightly to $1.73 billion on Monday after Sunday’s record high.
- Trade.xyz held $1.58 billion in open interest, equal to 91.3% of the HIP-3 total.
- Trade.xyz posted $5.6 billion in 24-hour volume and 45,300 unique daily traders on Monday.
- WTI led with $1.27 billion volume, ahead of Brent at $1.04 billion and silver at $1.01 billion.
Hyperliquid’s HIP-3 open interest jumped 25% in one week to $1.74 billion on Sunday. The total stood at $1.39 billion on March 15. The move set a new peak for the market. HIP-3 launched about six months ago and has expanded quickly.
Open interest eased slightly to $1.73 billion on Monday. Trade.xyz held $1.58 billion, or 91.3% of the market total. The platform also reached new highs in daily volume and trader count. Tokenized oil and silver pairs led much of the latest activity.
Trade.xyz leads HIP-3 market activity
Trade.xyz is built by Hyperunit, Hyperliquid’s tokenization arm. It remains the largest HIP-3 market platform by open interest. The Block’s data dashboard showed its lead on Monday. Its share stayed above 90% of the total market.
Trade.xyz posted $5.6 billion in 24-hour volume on Monday. Unique daily traders reached 45,300. Both figures marked new highs for the platform. Activity rose as more users traded tokenized traditional assets.
WTI oil led the platform with $1.27 billion in daily volume. Brent oil followed at $1.04 billion. Silver ranked next with $1.01 billion. These three markets were the busiest pairs on the platform.
Tokenized commodities drive round-the-clock trading
Tokenized real-world assets drove most recent HIP-3 trading. Oil and silver contracts led turnover across the largest venue. That pattern became more visible in recent weeks. Traders used these markets during all hours.
Hyperliquid supports 24/7 trading for permissionless perpetual futures. That keeps price discovery active after regular market hours. Commodities can keep trading while traditional venues are closed. The structure gives users constant market access.
Recent Middle East tensions added volatility to oil prices. That pushed more traders toward always-open markets. Continuous trading became more relevant during those price swings. The trend was most visible in oil-linked pairs.
HYPE rises as Hyperliquid expands product range
Hyperliquid’s native token HYPE traded at $38.3 on Monday. The token was up 2.8% over 24 hours. It also rose 30.6% over the past 30 days. The gain came during the same period as stronger HIP-3 activity.
HIP-3 open interest reached a record while daily volume also climbed. Trade.xyz set fresh highs in both metrics. The token and market activity moved higher at the same time. The data pointed to broader growth across the ecosystem.
Hyperliquid also announced HIP-4. The proposal adds permissionless prediction market listings. HIP-4 is now in the testnet phase. The new plan extends Hyperliquid beyond current HIP-3 products.
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