Hyperliquid's perpetual contract market share hits all-time high at 10.9%

Hyperliquid's global perpetual contract open interest market share has hit an all-time high of 10.9%. Blockbits reported on October 20 that HypeFlows data shows Hyperliquid holds a 10.9% market share in the global perpetual contracts market based on open interest, including centralized exchanges like Binance, Bybit, and OKX. Open interest refers to the total value of unsettled derivative contracts. The figure represents Hyperliquid's open interest divided by the total open interest across all global perpetual contract markets, including both decentralized and centralized platforms. While open interest indicates the size of positions remaining in the market, it does not show whether longs or shorts dominate or reflect investor profits or losses directly. Therefore, a rise in market share alone cannot determine trading profitability or token price direction. Hyperliquid's native token HYPE traded at $91.32 on October 20, with a 24-hour decline of 1.7% according to HTX data. Despite reaching the all-time high in perpetual contract market share, the token price showed weakness. Previous reports noted when Hyperliquid's open interest market share exceeded 10%, and this latest figure shows an increase from that prior milestone. However, the proportion can vary based on changes in total market open interest and the volume of contracts on centralized exchanges.