The post Hyperliquid’s HIP-3 custom markets go live with $500M+ in 24-hour trading volume appeared on BitcoinEthereumNews.com. Hyperliquid recorded one of its busiest trading days of the month after launching HIP-3 custom markets, with its Hyperliquid interface showing more than $500 million in trading volume over the past 24 hours poured into synthetic markets linked to equity underlyings. HIP-3 introduced xyz, flx, and vnti to the decentralized exchange, which currently supports more than 20 tokens. Most of these track equity benchmarks or single-stock exposures using synthetic perpetual contracts.  The broad-based XYZ100 that traders have equated to the Nasdaq100 index led the day with $320 million in trading volume. NVDA followed with $66 million, while GOOGL reached $45 million.  Tesla, Microsoft, and Palantir markets each reported between $8 million and $28 million in daily volume. Their open interest figures were concentrated between $1.4 million and $6.3 million, a rather healthy positioning even among individual equities with smaller relative market caps.  HIP-3 market activity crosses $500 million in daily volume According to Hyperliquid’s developer notes forum, HIP-3 allows any user who locks a defined amount of HYPE tokens to create their own perpetual futures markets on the Hyperliquid blockchain. The requirement initially stands at 500,000 HYPE, and stakers can access a reward system in which market creators earn 50% of the transaction fees produced by their listings. The 24-hour trading session also featured “growth mode,” first deployed during HIP-3’s activation to accelerate liquidity formation by cutting taker fees from 0.045% to as low as 0.0045% and 0.009%, more than 90% down from the standard mode.  Protocol fees and maker rebates were also reduced by 90%, creating one of the lowest-cost environments in decentralized finance for new market listings. The strong volume was accompanied by sizable price upticks in many of the HIP-3 synthetic tokens. META-USDC topped the biggest earners by climbing 4.44% to $638.69 after gaining 27.18 points. PLTR-USDC… The post Hyperliquid’s HIP-3 custom markets go live with $500M+ in 24-hour trading volume appeared on BitcoinEthereumNews.com. Hyperliquid recorded one of its busiest trading days of the month after launching HIP-3 custom markets, with its Hyperliquid interface showing more than $500 million in trading volume over the past 24 hours poured into synthetic markets linked to equity underlyings. HIP-3 introduced xyz, flx, and vnti to the decentralized exchange, which currently supports more than 20 tokens. Most of these track equity benchmarks or single-stock exposures using synthetic perpetual contracts.  The broad-based XYZ100 that traders have equated to the Nasdaq100 index led the day with $320 million in trading volume. NVDA followed with $66 million, while GOOGL reached $45 million.  Tesla, Microsoft, and Palantir markets each reported between $8 million and $28 million in daily volume. Their open interest figures were concentrated between $1.4 million and $6.3 million, a rather healthy positioning even among individual equities with smaller relative market caps.  HIP-3 market activity crosses $500 million in daily volume According to Hyperliquid’s developer notes forum, HIP-3 allows any user who locks a defined amount of HYPE tokens to create their own perpetual futures markets on the Hyperliquid blockchain. The requirement initially stands at 500,000 HYPE, and stakers can access a reward system in which market creators earn 50% of the transaction fees produced by their listings. The 24-hour trading session also featured “growth mode,” first deployed during HIP-3’s activation to accelerate liquidity formation by cutting taker fees from 0.045% to as low as 0.0045% and 0.009%, more than 90% down from the standard mode.  Protocol fees and maker rebates were also reduced by 90%, creating one of the lowest-cost environments in decentralized finance for new market listings. The strong volume was accompanied by sizable price upticks in many of the HIP-3 synthetic tokens. META-USDC topped the biggest earners by climbing 4.44% to $638.69 after gaining 27.18 points. PLTR-USDC…

Hyperliquid’s HIP-3 custom markets go live with $500M+ in 24-hour trading volume

Hyperliquid recorded one of its busiest trading days of the month after launching HIP-3 custom markets, with its Hyperliquid interface showing more than $500 million in trading volume over the past 24 hours poured into synthetic markets linked to equity underlyings.

HIP-3 introduced xyz, flx, and vnti to the decentralized exchange, which currently supports more than 20 tokens. Most of these track equity benchmarks or single-stock exposures using synthetic perpetual contracts. 

The broad-based XYZ100 that traders have equated to the Nasdaq100 index led the day with $320 million in trading volume. NVDA followed with $66 million, while GOOGL reached $45 million. 

Tesla, Microsoft, and Palantir markets each reported between $8 million and $28 million in daily volume. Their open interest figures were concentrated between $1.4 million and $6.3 million, a rather healthy positioning even among individual equities with smaller relative market caps. 

HIP-3 market activity crosses $500 million in daily volume

According to Hyperliquid’s developer notes forum, HIP-3 allows any user who locks a defined amount of HYPE tokens to create their own perpetual futures markets on the Hyperliquid blockchain. The requirement initially stands at 500,000 HYPE, and stakers can access a reward system in which market creators earn 50% of the transaction fees produced by their listings.

The 24-hour trading session also featured “growth mode,” first deployed during HIP-3’s activation to accelerate liquidity formation by cutting taker fees from 0.045% to as low as 0.0045% and 0.009%, more than 90% down from the standard mode. 

Protocol fees and maker rebates were also reduced by 90%, creating one of the lowest-cost environments in decentralized finance for new market listings.

The strong volume was accompanied by sizable price upticks in many of the HIP-3 synthetic tokens. META-USDC topped the biggest earners by climbing 4.44% to $638.69 after gaining 27.18 points. PLTR-USDC rose 2.42% to $164.48, while TSLA-USDC moved 2.18% higher to $421.71.

Over the last day, GOOGL-USDC and MSFT-USDC went up by 1% and 1.48% respectively, and AAPL-USDC rose modestly to $278.17. The only notable loser in the top 10 was NVDA-USDC, which slipped 0.45% to $175.22.

Hyperliquid DEX crypto volume nets $2 billion in seven days

Beyond HIP-3, Hyperliquid’s broader crypto exchange registered $364.97 million in 24-hour volume, $2.014 billion over seven days, and $8.652 billion in the last 30 days, according to DefiLlama. 

Its native Hyper EVM chain generated $94 million in revenue since the end of October, and total cumulative revenue has exceeded $415 million. 

Compared to its competitors, Hyperliquid ranks 10th on DefiLlama’s 7-day recorded volume charts, $1.6 billion behind 9th-place Curve Finance and $15 billion away from the top spot occupied by Ethereum-based DEX Uniswap.

The HYPE token rose 3.18% from Tuesday’s market close after consolidating between the $29-$32 mark for the past week. The DEX coin is now changing hands at $33.8 at the time of this reporting, 11% down from its weekly high of $38.3.

About 2.6 million HYPE, valued at about $91 million, was unstaked ahead of a scheduled unlock event on November 29, which caused a brief price correction that sent the token to $28 early Tuesday morning, before it recovered.

The upcoming unlock will release between 2.66% and 3.6% of the total token supply over the next 2 years, gradually, a value estimated at $314 million to $316 million.

According to market watchers, HYPE’s price chart is similar to the conditions seen on the broader crypto market, owing to its 30% value downtick for the month. Some traders are holding onto the belief of a rally if the $29 support level continues to hold, seeing a potential charge towards the $40 price level before November comes to a close.

“There’s been a lot of fud around the unlocks, but if you believe in the project, these are the times to get behind,” trader Crypto Bully said on X.

If you’re reading this, you’re already ahead. Stay there with our newsletter.

Source: https://www.cryptopolitan.com/hyperliquid-hip-3-custom-markets-trades/

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