HYPE's Open Interest Hits $16.3 Billion, Highest in a Year

Hyperliquid (HYPE) has seen its perpetual futures open interest (OI) reach $16.3 billion, according to Blockbits, marking the largest size in a year. Hyperliquid has expanded its on-chain trading infrastructure over the past year to support stocks, commodities, indices, pre-IPOs, and event contracts within the cryptocurrency perpetual futures market. Launched in October 2023, HIP-3 enables third parties to stake HYPE to establish their own perpetual futures markets, broadening the underlying asset scope to include U.S. equities, gold, oil, S&P500, and private companies like SpaceX.