HYPE surges over 60% in a week as open interest across Hyperliquid’s HIP-3 DEXs tops $925 million

The native token of the Hyperliquid ecosystem, HYPE, has witnessed an explosive period of growth, skyrocketing over 60% in the last seven days. This significant price appreciation is intrinsically tied to the dramatic expansion of activity on Hyperliquid’s decentralized exchange (DEX) platforms, particularly those operating under the latest governance iteration, HIP-3. Data indicates that the aggregate Open Interest (OI)—the total value of outstanding derivative contracts currently held by market participants—has soared past the $925 million threshold. This milestone firmly establishes Hyperliquid as a dominant force in the decentralized finance (DeFi) derivatives sector, showcasing immense liquidity depth and market trust.

Hyperliquid specializes in high-speed, perpetual futures trading. The platform’s architecture is optimized for performance, enabling it to handle high transaction volumes efficiently. Analysts suggest that the rising OI and volume are driven by both retail momentum and increased institutional adoption seeking robust, low-latency DeFi trading environments.

The exceptional performance of the underlying platform directly fuels investor confidence in the HYPE token, suggesting that market participants are anticipating further utility implementation and governance participation tied to the platform’s continued success and expanding market share.

Source: HYPE surges over 60% in a week as open interest across Hyperliquid’s HIP-3 DEXs tops $925 million