Hyperliquid's open interest reaches $14.3 billion and HYPE token hits all-time high.
DeFi & Yields ·
Hyperliquid's open interest reached $14.3 billion as the protocol's native token HYPE achieved an all-time high, according to trading data reported by The Block. This marks a recovery from a sharp contraction earlier in the year when the platform shed roughly 56 percent of its open interest in a single day, declining from $14.7 billion to $6.5 billion on October 10, 2025.
The surge in open interest reflects sustained activity across Hyperliquid's perpetual futures market, with the HYPE token's price milestone suggesting renewed investor confidence in the ecosystem. The recovery to current levels demonstrates the market's rebound capacity following the earlier withdrawal episode.
Whether this momentum is durable or reflects short-term volatility remains uncertain. The extent to which the HYPE price peak and open interest climb are tied to specific protocol developments or broader market conditions is not yet detailed.