Hyperliquid open interest hits $4.7 billion, HYPE falls to $70 amid selling pressure

Hyperliquid ’s HIP-3 markets have achieved a new all-time high in open interest, reaching $4.7 billion, while recording $4.9 billion in trading volume over 24 hours. According to data provided by Vikingos, this surge in both open interest and trading activity reflects a significant rise in participation across the platform’s permissionless markets. HIP-3 is designed to allow independent developers to create their own perpetual futures exchanges using Hyperliquid’s underlying infrastructure. This functionality enables the introduction of new markets outside of Hyperliquid’s core offerings, potentially including areas such as equities and commodities. Higher open interest represents more active, outstanding positions on the platform, while strong trading volume points to increased market participation. Together, these indicators underscore the growing adoption of Hyperliquid’s trading framework.

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