Hyperliquid HIP-3 markets hit $1.2B open interest ATH as Bloomberg spotlights 24/7 price discovery and HSI rings NASDAQ opening bell

Hyperliquid’s HIP-3 framework has become a major driver of activity on the exchange, with builder-deployed perpetual markets reaching roughly $1.2 billion in open interest and later setting higher records in 2026 as trading expanded beyond crypto into commodities and tokenized equity/index exposure. HIP-3 is Hyperliquid’s permissionless market-creation system, where deployers stake HYPE to launch new perpetual contracts and keep a share of the fees, which has helped attract third-party markets and push around-the-clock price discovery for assets that are normally limited by traditional exchange hours. The broader context is that Hyperliquid has been positioning HIP-3 as a venue for 24/7 trading in instruments tied to oil, gold, silver, and major equity indices, with reports showing commodity and index contracts taking a growing share of volume. The Bloomberg attention and the NASDAQ opening-bell appearance by HSI underscore that these markets have moved beyond a niche crypto experiment and into a more visible crossover with traditional finance, making HIP-3 a case study in how onchain derivatives can compete with legacy venues on continuous pricing and market access.

✨ AI-generated background, compiled from web sources — not editorial content.

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