Hyperliquid HIP-3 Tops $200 Billion in Cumulative Volume as On-chain Traditional Asset Derivatives Expand
Hyperliquid’s HIP-3 framework has surpassed $200 billion in cumulative trading volume since its launch in October 2025. Peak open interest on the platform reached about $3.2 billion in June, while an officially licensed S&P 500 perpetual contract entered the platform’s top ten by trading volume after launch.

