Hyperliquid's HIP-3 Market Sees Significant Growth Driven by Non-Crypto Assets

Open interest (OI) in Hyperliquid's HIP-3 market has reached approximately $2.1 billion, marking a growth of about 580% this year. According to ChainCatcher, this increase is primarily driven by non-crypto assets. Among the top ten markets by trading volume on the platform, only three involve cryptocurrency pairs, while the rest are tokenized stocks and commodities, including the Nasdaq Index, S&P 500, crude oil, gold, and silver. Analysts highlight that the demand for '24/7 trading of traditional assets' is a key driver. Unlike traditional markets, which are restricted by trading hours, HIP-3 allows investors to trade stocks and commodities around the clock through on-chain settlement and a non-intermediary structure. Additionally, TradeXYZ accounts for over 90% of the open interest in HIP-3, establishing itself as the primary source of liquidity in this sector.