Hyperliquid's open interest contracts reach a record high of $18 billion

According to official data from Hyperliquid, the platform's bilateral open interest contracts have reached a record high of $18 billion. Over the past year, Hyperliquid has expanded from an encrypted perpetual trading platform to an on chain trading infrastructure that covers stocks, commodities, indices, Pre IPOs, and event contracts. The HIP-3, which will be launched in October 2025, allows third-party staking of HYPE for deployment in the perpetual market. As of early September 2026, the HIP-3 market has accumulated over 548 billion US dollars in transactions. The HIP-4, which will be launched in May 2026, fills the gap in forecasting markets and event contracts. At the same time, 21Shares, Bitwise, and Grayscale launched HYPE related ETFs, and the platform simultaneously launched native lending and promoted the licensed HIP-3 market for US users.