- Hyperliquid has surpassed $10.6 billion in open interest, reflecting increased platform activity and growing trader participation.
- HYPE token reached a new all-time high of $47 after a 30% weekly gain, supported by strong market interest.
- Bybit and Binance hold large shares of open interest, but most remains within Hyperliquid, indicating platform loyalty.
Decentralized perpetuals exchange Hyperliquid has reported a new record in open interest, exceeding $10.6 billion. The milestone reflects a surge in platform activity and trader confidence. With an order-book-based system, the exchange continues to attract high-volume participants in the DeFi derivatives sector.
The jump in open interest indicates more market participants are engaging with Hyperliquid. This rise suggests a notable improvement in trading volumes and liquidity. The platform’s infrastructure appears to be supporting greater trade execution efficiency, leading to higher visibility among professional traders and institutions.
HYPE Token Climbs to All-Time High
Alongside the rise in open interest, the price of HYPE, Hyperliquid’s native token, climbed to a new all-time high of $47. Data from CoinMarketCap shows HYPE gained over 3% in a single day and has recorded a more than 30% increase over the past week. Its market capitalization also saw a steady climb of around 3% during the same period.
According to Coinalyze, leading centralized exchanges are holding significant portions of Hyperliquid-related open interest. Binance leads with $393 million, followed by Bybit with $122 million. Despite these figures, the majority of the open interest remains native to the Hyperliquid platform itself, underscoring its growing share in the DeFi market.
New Listings Fuel Momentum
The recent listing of HYPE on Bybit’s spot market has further strengthened its market performance. The move has allowed broader access to the token and contributed to rising interest from retail and institutional players. The increased exposure has positioned HYPE among the top 12 cryptocurrencies by market cap.
The continued rise in HYPE’s price and the platform’s growing open interest show a clear uptick in investor engagement. Analysts are watching the token closely, with discussions around future price levels gaining traction across trading communities. Market dynamics suggest the platform is on a solid growth path as adoption continues to build.
