Hyperliquid HIP-3 surpasses $2B in open interest as tokenized equities displace metals

Hyperliquid's permissionless HIP-3 futures market has blown past $2B in open interest — up roughly 190% from March and 800% year-to-date. Oil perpetuals still anchor the platform with Brent and WTI combining for over $1.1B, but tokenized equities like the S&P 500 and XYZ100 have added $500M and are now displacing precious metals as the second-largest asset class on the venue. Six of Hyperliquid's ten most active markets are RWA-linked, pulling around $3B in daily volume — about a third of all DEX volume. The 24/7 angle is the real draw: HIP-3 offers continuous price discovery for stocks and commodities while TradFi sleeps through weekends.

TLDR by @Benthic

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• Metals
• HIP-3
• Open Interest
• Hyperliquid