Hyperliquid hits $10B open interest milestone

• Hyperliquid’s open interest exceeded US$10 billion, making it the third-largest perpetual futures exchange.
• About US$4 billion of open interest came from builder-deployed markets launched through Hyperliquid Improvement Proposal-3 (HIP-3).
• Talos said growth is being supported by expanding trading in equities, commodities, indexes and pre-IPO markets.

Hyperliquid (CRYPTO:HYPE) surpassed US$10 billion in perpetual futures open interest, highlighting growing demand for onchain trading of crypto assets, equities and commodities.

The milestone comes as Hyperliquid became the third-largest perpetual futures exchange, with Talos attributing roughly US$4 billion of open interest to HIP-3 builder-deployed markets.

“Hyperliquid’s US$10 billion open interest milestone shows growing demand for onchain equities and commodities trading with 24/7 accessibility,” said Talos.

Talos identified oil, the Nasdaq 100 and technology stock-linked contracts among the platform’s most actively traded markets, while synthetic pre-IPO products generated more than US$250 million in open interest ahead of SpaceX’s expected public listing.

The latest figures indicate expanding participation in non-crypto markets on blockchain-based derivatives platforms, and following the announcement the Hyperliquid token price was unchanged at US$XX.

Hyperliquid launched prediction markets for offchain events on May 26, adding another product category as it expands beyond digital asset trading.

The platform generated more than US$15.6 million in fees during the past week, ranking behind only stablecoin issuers Tether and Circle among crypto protocols tracked by DefiLlama.

At the time of reporting, Hyperliquid price was $71.17.