Hyperliquid’s Product Expansion Drives Record Open Interest
Hyperliquid open interest hit a record $16.36 billion as stock, commodity and prediction-market products drew activity to the exchange. The post Hyperliquid’s Product Expansion Drives Record Open Interest appeared first on ReadWrite .
Hyperliquid's open interest surged to a record $16.36 billion, as the exchange expanded beyond crypto perpetual futures into stocks and prediction markets, according to BlockBeats. This marks an increase from the previous record set in September last year. Hyperliquid's new product lineup, including HIP-3 and HIP-4, introduced third-party depositing of HYPE to launch perpetual futures markets and prediction-market products.
These markets now include U.S. stocks, gold, crude oil, the S&P 500, and private companies like SpaceX. Cumulative trading volume across HIP-3 markets surpassed $548 billion, accounting for roughly 30% of Hyperliquid's total trading volume over the past 30 days. HIP-4 was also opened to third-party launches in May 2026, mirroring the builder-driven model of HIP-3.
This expansion positions Hyperliquid closer to a general-purpose on-chain trading platform, offering exposure to equities, commodities, and event contracts. The move raises questions about regulation and oversight, as it moves away from the traditional approach of other exchanges, which focus on building derivatives on top of prediction-market infrastructure.
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