Open interest on Hyperliquid surged to a record ~$790 Mn this week and the Hyperliquid price is trending on CoinGecko. The simple fact of the matter is Hyperliquid will be around forever plus there are tons of apps being built on top of it.
There are automated perp trading bots coming out like JEST bot, not to mention the potential for drop farming. The first hype drop made a bunch of slobs multimillionaires.
Additionally, the jump is being driven by a sharp increase in perpetual contracts tied to traditional financial assets under Hyperliquid’s new HIP-3 framework. Here’s what you need to know if this is a potential top five coin and a new crypto presale melting faces:
HIP-3 open interest reached an all-time high of $790M, driven recently by a surge in commodities trading.
HIP-3 OI has been hitting new ATHs each week. A month ago, HIP-3 OI was $260M.
— Hyperliquid (@HyperliquidX) January 26, 2026
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Is The Hyperliquid Price a Potential Top 5 Coin? Why HIP-3 Is Changing the Perps Game
HIP-3, activated in October 2025, allows developers to launch perpetual contracts on virtually any asset by staking 500k HYPE. Since launch, cumulative HIP-3 trading volume has crossed $25 Bn, with real-world asset markets now dominating activity.
The largest markets tell the story with XYZ100, a composite index of the 100 largest public companies, which has processed ~$12.7 Bn in volume and holds ~$165 Mn in open interest.
I’m still using Hyperliquid in 2026 and don’t plan to quit. Everyone is trying to farm some imaginary points while I’m simply here because I like the interface.
And at the center of it is infrastructure adoption. Silver perps sit near $3 Bn in cumulative turnover and Nvidia perps have surpassed $1.2 Bn.
Hyperliquid has quietly achieved an important milestone of becoming the most liquid venue for crypto price discovery in the world. See below for side by side comparison of BTC perps on Binance (left) and Hyperliquid (right).
With HIP-3 teams leading the way, Hyperliquid has also… https://t.co/xu41eTqPfI pic.twitter.com/aJCFYjMoxV
— jeff.hl (@chameleon_jeff) January 26, 2026
According to internal Hyperliquid data, the platform now commands roughly 51% of global perpetual futures volume and 56% of open interest, overtaking Binance and Bybit. That is a structural shift, not a headline spike.
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Hyperliquid’s edge is built on a custom L1 optimized for trading, which delivers sub-second execution and deep order books. BTC perp spreads narrowed to ~$1 on Hyperliquid versus ~$5.50 on Binance at the same timestamp.
Sell-side depth reached ~140 BTC on Hyperliquid compared to ~80 BTC on Binance.
“We’ve become the most liquid venue not just for crypto perps, but for traditional assets as well,” said Hyperliquid co-founder Jeff Yan.
Despite exploding usage, the HYPE token trades near $27, down ~47% from its $59.30 peak. According to on-chain revenue data, protocol earnings nearly doubled in H2 2025 to roughly $11 Mn per month.
That has compressed implied P/E ratios from ~8x to below 4x.
99Bitcoins analysts see Hyperliquid sits at the intersection of crypto market structure and real-world assets, and high-speed trading. It’s a top five asset in the making and could be one of the few hidden gems in this market.
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Can This New Hyper Token Pump Too? Bitcoin Hyper Could Be the Next Big Thing In 2026?
While Hyperliquid pumps so does another hyper token: new crypto presale Bitcoin Hyper is starting to surface as a serious 2026 trade. HYPER is built on an SVM-based scaling layer that bolts fast smart contracts onto
Bitcoin
1.84%
Bitcoin
BTC
Price
$61,236.42
1.84% /24h
Volume in 24h
$34.30B
Price 7d
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without touching its security model.
Development has accelerated into 2026, and market rumors are tightening around the BTC launch window.
The upshot for HYPER is that by lowering fees and improving scalability, it opens the door to broader participation, including meme coin trading and more flexible payments. Its presale has already topped $31 Mn, indicating strong early demand.
Ringing in 2026 in style. ⚡️
30M Raised! 🔥https://t.co/VNG0P4GuDo pic.twitter.com/dZ4WkGMSvv
— Bitcoin Hyper (@BTC_Hyper2) January 1, 2026
By opening Bitcoin to DeFi, gaming, and tokenized real-world assets, HYPER broadens use cases and trims the circulating supply, two factors that can favor price.
Bitcoin Hyper is closing in on $35 Mn raised, with less than a day to go before its $0.013645 token round ends. If risk on return crypto presales like Bitcoin Hyper are looking to lead the way.
Visit Bitcoin HyperJoin the Utility Wave with BTC Hyper Now
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Key Takeaways
- The simple fact of the matter is Hyperliquid will be around forever plus there’s tons of apps being built on top of it.
- By opening Bitcoin to DeFi, gaming, and tokenized real-world assets, Bitcoin HYPER is broadening use cases for BTC.
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