Hyperliquid continues to reshape decentralized trading as HIP-3 open interest (OI) climbs to a fresh all-time high of $790 million, driven largely by a surge in commodities-related activity. The rapid growth marks a major leap from just $260 million one month ago, underscoring accelerating adoption across both crypto-native and traditional financial markets. The protocol has quietly reached what many centralized exchanges have long dominated, becoming one of the most liquid venues for real-time crypto price discovery globally. In a recent update shared by Hyperliquid, the team highlighted side-by-side comparisons of Bitcoin perpetual futures liquidity between Binance and Hyperliquid, showing how
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