๐ Iโm Storiesofcoins โ HYPE just ran 60%+ in a week while Hyperliquidโs HIP-3 markets printed a new $925M+ open interest record. This is what a derivatives-driven rally looks like in real time. (CoinMarketCap)
๐ฅ What just happened
๐ HYPE up 60%+ weekly, trading near $35
โก Roughly 50% gained in 3 days as platform activity hit new highs (CoinMarketCap)
๐ HIP-3 aggregate open interest jumped to $925M+ (Flowscan)
โฌ๏ธ Up from about $790M earlier in the week (CoinMarketCap)
๐งจ Total Hyperliquid futures open interest sits around $7.8B (CoinGlass) (CoinMarketCap)
๐ง Beginner translation
When open interest spikes this fast, it usually means:
๐ธ more leverage โ ๐ bigger candles โ ๐ฅ liquidations can accelerate the move
So price action becomes faster, sharper, and more sensitive to sentiment. (CoinMarketCap)
๐ฅ The surprise driver: commodities on-chain
Hyperliquid isnโt just crypto perps. The article highlights a surge in commodities, with silver futures doing $1B+ in 24h volume and leading the HIP-3 leaderboard as silver hit new all-time highs. (CoinMarketCap)
Why this matters:
๐ new trader cohorts + new volume sources
๐ volume โ deeper liquidity โ more OI โ more attention
โ๏ธ Why HIP-3 matters
HIP-3 is a late-2025 upgrade that enables permissionless creation of perpetual markets.
Third-party builders can deploy perp DEXs while sharing liquidity + infrastructure with Hyperliquidโs core system. (CoinMarketCap)
Translation:
๐งฑ more markets โ ๐ more activity โ ๐ฐ stronger flywheel
๐ณ Flow signal that added heat
On-chain watchers flagged a new wallet that moved about $45M USDC to Hyperliquid and accumulated about 290k HYPE (around $9.8M), with buying ongoing. (CoinMarketCap)
โ What I would watch next
๐ OI vs price: OI up while price stalls often precedes a squeeze
๐ง Funding: overheated funding can signal a reset
๐ฅ Commodities share: if metals keep dominating, the narrative strengthens
๐ USDC inflows: big inflows often precede volatility
๐ฌ Question for you
If on-chain perps start pulling serious volume from commodities like silver, do you see that as bullish growth or systemic risk?
#HYVE #Hyperliquid #Perpetuals #DeFi #CryptoNews
