Decentralized exchange Hyperliquid reached a record open interest of $8.1 billion on September 20, 2026. The platform now holds approximately 10.9% of the global perpetual futures market share.
Data from DefiLlama shows that the 24-hour trading volume reached $1.05 billion at the time of the milestone. The protocol operates as a Layer-1 blockchain designed for high-speed execution.
The introduction of the HIP-3 protocol in October 2025 enabled the trading of tokenized traditional assets, including equities and commodities. These instruments now contribute over 30% of the platform's total open interest.
The native token HYPE traded between $90.88 and $91.32 during the record period, with peaks reaching $93 to $94. The platform recently burned 26,310 HYPE tokens, valued at $2.4 million.
Total lifetime token burns have exceeded 48 million HYPE, accounting for 4.88% of the maximum supply. The platform funds these buybacks and burns through trading fees collected via an on-chain Assistance Fund.
