What to Know

• Hyperliquid reached $4.13B open interest while daily trading volume climbed 229% to $4.87B as tokenized assets gained momentum.
• Palantir led tokenized equity gains triggering leveraged liquidations exceeding $19.25 million while xyz dominated nearly all platform liquidity through HIP-3.
• High collateral requirements and HYPE buybacks increased entry barriers leaving smaller deployers struggling despite expanding real-world asset trading demand.

 

Hyperliquid has reached a new milestone in tokenized real-world asset trading, with HIP-3 open interest climbing above $4.13 billion for the first time. According to Hyperscreener ASXN, the platform also recorded $4.87 billion in daily trading volume, marking a 229% increase that exceeded the capital locked across its markets.

The figures indicate that traders are increasingly embracing blockchain-based access to traditional financial assets. Additionally, tokenized stocks, commodities, and indices attracted significant activity while conventional equity markets remained closed, giving market participants uninterrupted trading opportunities.

Contracts linked to memory chip manufacturers SK Hynix and Micron Technology ranked among the busiest markets during the period. Consequently, many traders shifted capital toward tokenized equities instead of speculative memecoin trading.

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Palantir rally drives market volatility

According to Hyperscreener ASXN, Palantir became the strongest-performing tokenized stock after posting a 25.86% gain. The rally triggered heavy volatility across leveraged positions and increased liquidation activity throughout the platform. As a result, daily liquidations on markets deployed by xyz surged 544% and exceeded $19.25 million. The move demonstrated how quickly leveraged positions can unwind when tokenized equity markets experience significant price swings.

Despite record trading activity, liquidity remained heavily concentrated within a single infrastructure provider. According to the platform’s data, xyz controlled approximately $4.12 billion of the total $4.13 billion in HIP-3 open interest, leaving only a small share for competing deployers.

Meanwhile, other deployers collectively managed between $15 million and $20 million in open interest. Moreover, Felix Protocol, one of Hyperliquid’s earliest ecosystem participants, has already announced the closure of its markets, reflecting the challenges smaller providers face.

The platform’s economic model has contributed to that imbalance. Deployers must lock 500 million HYPE tokens as collateral before launching a trading interface. Additionally, half of all generated fees are allocated to HYPE token buybacks, increasing the capital requirements for new entrants.

Record activity signals growing demand for tokenized assets

Growing activity in tokenized real-world assets suggests that blockchain markets are attracting traders seeking uninterrupted exposure to traditional financial instruments. Furthermore, the latest trading records demonstrate rising demand for tokenized equities that remain available outside conventional market hours.

Hyperliquid’s record open interest and trading volume underline the expanding role of tokenized real-world assets within crypto markets. However, the platform’s rapid growth also highlights the need for broader liquidity distribution as the ecosystem develops and attracts additional participants.

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The post Hyperliquid RWA Trading Hits $4.13B as Tokenized Stocks Dominate Market Activity appeared first on 36Crypto.