Bianjie.com news: Hyperliquid’s HIP-3 market trading volume now accounts for about 50% of its daily perpetual futures trading volume, up sharply from roughly 2% at the start of the year. This framework allows external teams to launch their own markets on Hyperliquid’s trading infrastructure, expanding beyond core crypto assets to other asset classes. Tradexyz has become the largest trading venue in this growth wave, with products including XYZ100, which tracks the Nasdaq 100, and perpetual contracts tied to US stocks such as NVIDIA and Tesla. The product is settled in stablecoins rather than the underlying stocks, giving traders synthetic price exposure without directly owning shares. Despite the risks, the surge in trading volume suggests stock-related trading is becoming an important part of Hyperliquid rather than a fringe experiment.

HYPE4.74%
NVDA4.07%
TSLA0.32%
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OrderflowOtter
· 6h ago
HIP-3 this data is pretty impressive—within half a year it went from 2% to 50%. This time, Tradexyz’s bet on U.S. stock derivatives looks like it paid off.
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BridgeWhisperer
· 6h ago
Using stablecoins for settlement really is more convenient for synthesized stock exposure, but how to hedge the risk exposure still needs to be looked at again.
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