Trending Now - Hyperliquid's HIP-3 Surges Past $2B, Transforming Equity Trading

WHO:

NewsBTC - Hyperliquid is the organization behind the HIP-3 platform.

99 Bitcoins - Hyperliquid is noted for its tokenized equity trading.

WHAT:

NewsBTC - Hyperliquid’s HIP-3 open interest reached approximately $2.38 billion last week before decreasing to just under $2.1 billion by Wednesday, marking a 12% decline.

NewsBTC - The open interest on Hyperliquid’s HIP-3 markets has increased from roughly $280 million at the start of 2026 to over $2 billion by the end of the first quarter, representing a growth of about 580% year-to-date.

NewsBTC - TradeXYZ, a decentralized perpetuals platform built on Hyperliquid, accounts for more than 90% of all HIP-3 open interest.

NewsBTC - The Block reported that only three of Hyperliquid’s ten most-traded markets are still crypto pairs; the rest are futures tied to tokenized stocks and commodities.

WHERE:

NewsBTC - Hyperliquid operates as a decentralized exchange (DEX) for trading tokenized equities and commodities.

WHEN:

NewsBTC - The integration of Hyperliquid’s HIP-3 infrastructure with Bitget Wallet occurred at the beginning of April 2026.

NewsBTC - The open interest figures were reported as of the week ending on April 9th, 2026.

WHY:

NewsBTC - The growth in open interest is attributed to the demand for 24/7 tokenized equity trading and the integration of new trading platforms.

HOW:

NewsBTC - HIP-3 consists of permissionless perpetual contracts where builders stake HYPE tokens to create their own markets, including synthetic equity indices and single-stock style perps.

(UPDATED April 16, 2026 17:25 UTC)

Hyperliquid, the organization behind the HIP-3 platform, has seen its open interest reach approximately $2.38 billion last week before dropping to just under $2.1 billion by Wednesday, marking a 12% decline. The platform, which operates as a decentralized exchange for trading tokenized equities and commodities, experienced a remarkable growth in open interest from roughly $280 million at the start of 2026 to over $2 billion by the end of the first quarter, driven by the demand for 24/7 trading and the integration of new platforms. Notably, TradeXYZ, a decentralized perpetuals platform built on Hyperliquid, accounts for more than 90% of all HIP-3 open interest, with the majority of its most-traded markets now consisting of futures tied to tokenized stocks and commodities.