Hyperliquid HIP-3 DEX Open Interest Surpasses $790 Million, Reaching an All-Time High

BlockBeats News, January 27th, according to The Block, Hyperliquid announced that the open interest of its HIP-3 deployed decentralized exchange platform has exceeded $790 million, reaching a new all-time high, mainly driven by the commodity trading boom. Hyperliquid CEO Jeff Yan stated that Hyperliquid has become the most liquid venue for crypto price discovery, with its BTC perpetual contract spread tighter than Binance's. The HIP-3 protocol introduced Builder-Deployed Perpetuals functionality in October last year, allowing eligible developers to deploy their own perpetual futures markets. Currently, TradeXYZ is the largest HIP-3 DEX with a daily trading volume of around $22 billion, capturing 90% of the total market share.