{"id":41155,"date":"2026-04-16T15:30:53","date_gmt":"2026-04-16T15:30:53","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=41155"},"modified":"2026-04-16T15:30:53","modified_gmt":"2026-04-16T15:30:53","slug":"hyperliquids-hip-3-open-interest-skyrockets-is-24-7-tokenized-equity-about-to-rewrite-wall-street","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=41155","title":{"rendered":"Hyperliquid\u2019s HIP\u20113 Open Interest Skyrockets\u2014 Is 24\/7 Tokenized Equity About To Rewrite Wall Street?"},"content":{"rendered":"

Hyperliquid\u2019s HIP\u20113 open interest is pushing toward the multi\u2011billion mark, led by not just crypto perps but synthetic equities and index products.<\/p>\n

Hyperliquid\u2019s HIP-3 New ATH<\/h2>\n

Following Bitget Wallet integration of Hyperliquid\u2019s HIP\u20113 infrastructure at the beginning of the month<\/a>, The Block claimed today<\/a> that its data indicates that only three of Hyperliquid\u2019s ten most\u2011traded markets are still crypto pairs: the rest are futures tied to tokenized stocks and commodities.<\/p>\n

Open interest on Hyperliquid\u2019s HIP\u20113 markets set a new record at about $2.38 billion last week, before easing to just under $2.1 billion by Wednesday \u2014a modest 12% slide that tracks the broader risk\u2011off shift across markets. This sits inside a broader Hyperliquid open interest of around $8B across the platform.<\/p>\n

Let\u2019s remember that HIP\u20113 consists in permissionless perps where builders stake HYPE to spin up their own markets, including synthetic equity indices, single\u2011stock style perps, and macro baskets. Traders get stock\u2011like exposure with leverage, no closing bell, and on\u2011chain custody, plus cross\u2011margining against crypto and commodities in a single venue.<\/p>\n

An Intensive Growth<\/p>\n

HIP\u20113\u2019s expansion has been explosive. The data suggests that open interest has vaulted from roughly $280 million at the start of the year to above $1 billion in under a month and then over $2 billion by quarter\u2011end, a jump of about 580% year\u2011to\u2011date. TradeXYZ (a decentralized perpetuals platform built on Hyperliquid) is driving the move, accounting for more than 90% of all HIP\u20113 open interest.<\/p>\n

\"Hyperliquid\"<\/p>\n

The real inflection point for HIP-3 is around $5 billion in open interest, The Block says. Once it reaches that zone, the markets throw off enough flow and depth to start looking viable for professional market\u2011making firms that currently focus on CME and CBOE products<\/p>\n

Just three of the ten busiest markets by volume are still crypto pairs on the leading perp DEX itself. The rest are futures tied to tokenized equity and commodities. This includes Nasdaq\u2011style indices, oil, gold, silver, and the S&P 500.<\/p>\n

What Traders Should Look For<\/p>\n

Hyperliquid is positioning as a de facto global macro venue where crude, gold, FX and now tokenized equities all trade side by side, with traditional media already using its prices as early signals.<\/p>\n

There\u2019s a strong chance HIP\u20113 eventually moves beyond perpetuals into spot tokenized stocks. Such a shift that would put it in much more direct competition with traditional equity exchanges and almost certainly force regulators to react faster.<\/p>\n

For interested traders, HIP\u20113 markets give high\u2011beta, always\u2011on equity exposure with CEX\u2011like depth, but with DEX\u2011style self\u2011custody and protocol risk layered on top. It would be wise to watch HIP\u20113 open interest versus spot volumes, the growth in equity\u2011linked perps share and any regulatory headlines that could re\u2011price the tokenization trade overnight.<\/p>\n

\"Hyperliquid,<\/p>\n

Cover image from Perplexity. BTCUSD chart from Tradingview.<\/p>","protected":false},"excerpt":{"rendered":"

Hyperliquid\u2019s HIP\u20113 open interest is pushing toward the multi\u2011billion mark, led by not just crypto perps but synthetic equities and index products. Hyperliquid\u2019s HIP-3 New ATH Following Bitget Wallet integration of Hyperliquid\u2019s HIP\u20113 infrastructure at the beginning of the month, The Block claimed today that its data indicates that only three of Hyperliquid\u2019s ten most\u2011traded […]<\/p>\n","protected":false},"author":1,"featured_media":41156,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-41155","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nHyperliquid\u2019s HIP\u20113 Open Interest Skyrockets\u2014 Is 24\/7 Tokenized Equity About To Rewrite Wall Street? - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=41155\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyperliquid\u2019s HIP\u20113 Open Interest Skyrockets\u2014 Is 24\/7 Tokenized Equity About To Rewrite Wall Street? - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Hyperliquid\u2019s HIP\u20113 open interest is pushing toward the multi\u2011billion mark, led by not just crypto perps but synthetic equities and index products. Hyperliquid\u2019s HIP-3 New ATH Following Bitget Wallet integration of Hyperliquid\u2019s HIP\u20113 infrastructure at the beginning of the month, The Block claimed today that its data indicates that only three of Hyperliquid\u2019s ten most\u2011traded […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptomag.finance\/?p=41155\" \/>\n<meta property=\"og:site_name\" content=\"Cryptomag\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-16T15:30:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptomag.finance\/wp-content\/uploads\/2025\/06\/generic-crypto-image.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Crypto Magazine\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptomagz\" \/>\n<meta name=\"twitter:site\" content=\"@cryptomagz\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Crypto Magazine\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=41155#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=41155\"},\"author\":{\"name\":\"Crypto Magazine\",\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/#\\\/schema\\\/person\\\/f749cd846c4f13ef717c12a20ce9d040\"},\"headline\":\"Hyperliquid\u2019s HIP\u20113 Open Interest Skyrockets\u2014 Is 24\\\/7 Tokenized Equity About To Rewrite Wall Street?\",\"datePublished\":\"2026-04-16T15:30:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=41155\"},\"wordCount\":493,\"image\":{\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=41155#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptomag.finance\\\/wp-content\\\/uploads\\\/generated_image101-ahpSZo.png\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptomag.finance\\\/?p=41155\",\"url\":\"https:\\\/\\\/cryptomag.finance\\\/?p=41155\",\"name\":\"Hyperliquid\u2019s HIP\u20113 Open Interest Skyrockets\u2014 Is 24\\\/7 Tokenized Equity About To Rewrite Wall Street? 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