Hyperliquid HIP-3 DEX open interest surpasses $790 million, setting a new all-time high.

According to Mars Finance, on January 27th, The Block reported that Hyperliquid announced its HIP-3 deployed decentralized exchange's open interest surpassed $790 million, a record high, primarily driven by the commodities trading boom. Hyperliquid CEO Jeff Yan stated that Hyperliquid has become the most liquid venue for crypto price discovery, with tighter spreads on its BTC perpetual contracts than Binance. The HIP-3 protocol introduced Builder-Deployed Perpetuals functionality last October, allowing qualified developers to deploy their own perpetual futures markets. Currently, TradeXYZ is the largest HIP-3 DEX, with a daily trading volume of approximately $22 billion, accounting for 90% of the total market share.