Hyperliquid’s HIP-3 markets hit $4B open interest as on-chain trading grows
The rise of on-chain trading in tokenized assets challenges traditional finance, potentially reshaping market dynamics and participant behavior.
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The builder-deployed stock, commodity and index perps launched in October 2025 have cleared $309 billion in cumulative volume, and non-crypto assets now fill seven of Hyperliquid's ten busiest markets.
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