Hyperliquid

<h2 id="strong-hype-token-news-strong">HYPE Token News</h2>
<a href="https://coinmarketcap.com/currencies/hyperliquid/" rel="noopener noreferrer nofollow">Hyperliquid</a> has surged more than 60% over the past week to trade near $35, climbing in tandem with open interest growth across Hyperliquid's HIP-3 decentralized exchanges. The token gained roughly 50% in the past three days alone as platform activity reached new records.
Aggregate open interest across HIP-3 DEXs has risen to over $925 million, according to data from Flowscan. This marks an increase from Monday's record of nearly $790 million. Total Hyperliquid futures open interest currently stands at approximately $7.8 billion, per <a href="https://www.coinglass.com/exchanges/Hyperliquid" rel="noopener noreferrer nofollow">CoinGlass data.</a>
The rally coincides with a sharp increase in commodities trading on the platform. Silver futures alone<a href="https://hyperscreener.asxn.xyz/hip3" rel="noopener noreferrer nofollow"> generated</a> more than $1 billion in 24-hour trading volume, topping the HIP-3 markets leaderboard as silver prices continue to make new all-time highs. Precious metals contracts have seen <a href="https://x.com/DeriveXYZ/status/2016457562498207823?s=20" rel="noopener noreferrer nofollow">outsized </a>activity in recent sessions.
Hyperliquid is an on-chain perpetuals trading platform built for high-speed, low-latency derivatives trading without centralized intermediaries. The protocol operates its own custom execution layer-1 network and serves as a venue for both crypto-native and non-crypto markets, including commodities futures.
HIP-3 refers to a protocol upgrade activated by Hyperliquid in late 2025 that enables permissionless creation of perpetual futures markets on the platform. The upgrade allows third-party developers to deploy their own perpetual DEXs while sharing liquidity and infrastructure with Hyperliquid's core system, driving the recent expansion in open interest.
Derivatives indicators have turned more constructive. Analysts at Derive said option market metrics tied to Hyperliquid have rebounded from recent bearish levels, pointing to renewed demand for upside exposure as options volumes rise. Derivatives markets are showing increased bullish positioning.
Blockchain data showed signs of spot demand. On-chain analysts Lookonchain <a href="https://x.com/lookonchain/status/2016429578777231415" rel="noopener noreferrer nofollow">flagged </a>a newly created wallet that transferred approximately $45 million in <a href="https://coinmarketcap.com/currencies/usd-coin/" rel="noopener noreferrer nofollow">USDC</a> to Hyperliquid. The wallet accumulated nearly 290,000<a href="https://coinmarketcap.com/currencies/hyperliquid/" rel="noopener noreferrer nofollow"> Hyperliquid </a>tokens valued at roughly $9.8 million, with purchases ongoing.

HYPE Jumps 60% as Hyperliquid Volume Hits $925M

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