Hyperliquid’s HIP-3 market has reached a new milestone with total open interest (OI) surpassing $1.43 billion, setting an all-time high. Recent data shows active trading, especially in the perpetual WTI crude oil contract with a 24-hour volume of $1.39 billion. This makes it the second-largest trading market on the platform, after Bitcoin and surpassing Ethereum.
This indicates growing interest from users beyond traditional crypto assets. Notably, among the top 30 most active markets, only 7 are cryptocurrency pairs. The rest mainly consist of tokenized assets such as the S&P 500 index, NVIDIA stocks, and precious metals. This trend reflects the expansion into trading traditional financial assets on the blockchain.
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