{"id":97956,"date":"2026-06-04T15:08:17","date_gmt":"2026-06-04T12:08:17","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=97956"},"modified":"2026-06-04T15:10:21","modified_gmt":"2026-06-04T12:10:21","slug":"hyperliquids-derivatives-market-share-reaches-6-63","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hyperliquids-derivatives-market-share-reaches-6-63\/","title":{"rendered":"Hyperliquid&#8217;s Derivatives Market Share Reaches 6.63%"},"content":{"rendered":"<p>In May, the trading volume share of perpetual futures on <a href=\"https:\/\/forklog.com\/en\/news\/the-price-of-popularity-and-a-lesson-for-all-hyperliquid\">Hyperliquid<\/a> rose to a record 6.63% of the total turnover on <span data-descr=\"centralized exchanges\" class=\"old_tooltip\">CEX<\/span> \u2014 $200 million out of $3 trillion.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/decentralized-finance\/derivatives\/hyperliquid-vs-exchanges-monthly-perpetual-volumes\/embed\" title=\"Hyperliquid vs Exchanges Monthly Perpetual Volumes\"><\/iframe><\/p>\n<p>For comparison, relative to the turnover of the largest crypto exchange Binance, the figure was 14.4%. In June, the platform&#8217;s expansion continued \u2014 at the time of writing, its share is around 7.5%.<\/p>\n<p>The growth driver was the launch of the HIP-3 mechanism, allowing third-party teams to create their own markets for perpetual contracts. In May, turnover in this segment exceeded $62 billion. The cumulative 30-day trading volume of derivatives on Hyperliquid reached $176.97 billion.<\/p>\n<p>Open interest (OI) on the platform is estimated at $9.82 billion \u2014 accounting for 54% of the total OI of all protocols in the <a href=\"https:\/\/forklog.com\/en\/news\/perp-dex-old-tricks-new-tech\">perp-DEX<\/a> segment.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d9de6694000dd50b-6176068464740651.webp\" alt=\"Screenshot 2026-06-04 141801\" class=\"wp-image-281025\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/defillama.com\/protocol\/hyperliquid\">DefiLlama<\/a>.<\/figcaption><\/figure>\n<p>The HIP-3 mechanism requires developers to lock 500,000 HYPE in <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a> to deploy a platform with independent order books and a margin system. The deployer&#8217;s share in commissions is fixed at 50%.<\/p>\n<p>The platform&#8217;s growth was driven not only by cryptocurrencies but also by synthetic assets: <a href=\"https:\/\/forklog.com\/en\/news\/what-are-rwas-real-world-assets\">tokenized<\/a> stocks (Tesla, Apple, Nvidia), commodities, and contracts for the valuation of private companies (OpenAI, SpaceX).<\/p>\n<p>Amid the protocol&#8217;s success, the native token HYPE reached a new all-time high. On June 2, the price hit $75.48. At the time of writing, the asset is trading at $65.15 with a market capitalization of $14.46 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e181ece51d6fe91b-6176105000251090.webp\" alt=\"HYPEUSDT_2026-06-04_14-22-07\" class=\"wp-image-281026\"\/><figcaption class=\"wp-element-caption\">Hourly chart of HYPE\/USDT on KuCoin. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=KUCOIN%3AHYPEUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Notably, at its nominal price, HYPE surpassed <a href=\"https:\/\/forklog.com\/en\/news\/what-is-solana-sol\">Solana<\/a>: SOL is trading at $68.64. However, the market capitalization of the &#8220;people&#8217;s cryptocurrency&#8221; ($39.23 billion) still significantly exceeds Hyperliquid&#8217;s figures.<\/p>\n<p>In May, Grayscale Research analysts <a href=\"https:\/\/forklog.com\/en\/news\/grayscale-hails-hyperliquid-as-a-breakthrough-in-defi\">called<\/a> the platform a breakthrough in DeFi.<\/p>\n<p>Later, the head of ICE <a href=\"https:\/\/forklog.com\/en\/news\/ice-ceo-acknowledges-hyperliquids-growth-calls-for-equal-rules-for-on-chain-futures\">acknowledged<\/a> Hyperliquid&#8217;s growth and demanded &#8220;equal rules&#8221; for on-chain futures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In May, the trading volume share of perpetual futures on Hyperliquid rose to a record 6.63% of the total turnover on CEX \u2014 $200 million out of $3 trillion.<\/p>\n","protected":false},"author":1,"featured_media":97957,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Hyperliquid's trading volume share of perpetual futures reached 6.63% in May.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[787,1823,1145],"class_list":["post-97956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dex","tag-hyperliquid","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"Hyperliquid's trading volume share of perpetual futures reached 6.63% in May.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=97956"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97956\/revisions"}],"predecessor-version":[{"id":97958,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/97956\/revisions\/97958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/97957"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=97956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=97956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=97956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}