Aggregated open interest across Hyperliquid's HIP-3 markets rose to a new peak of $1.74 billion on Sunday, surging 25% from $1.39 billion on March 15.

The increase extends the rapid expansion of Hyperliquid's permissionless perpetual futures tied to tokenized traditional assets, which launched roughly six months ago. Sunday's figure marked an all-time high for HIP-3, with open interest slipping to $1.73 billion on Monday.

According to The Block's data dashboard, Trade.xyz — built by Hyperliquid's tokenization arm Hyperunit — continues to dominate the market with $1.58 billion in open interest. This is 91.3% of the total HIP-3 open interest.

On Monday, Trade.xyz reported new all-time highs, with 24-hour volume peaking at $5.6 billion and unique daily traders reaching 45,300. Top-performing pairs on the platform are tied to tokenized traditional assets, led by WTI oil with $1.27 billion in 24-hour volume, followed by Brent oil at $1.04 billion and silver at $1.01 billion.

The strong performance of tokenized real-world assets on the platform is largely driven by Hyperliquid's 24/7 trading capability, which enables ongoing price discovery for commodities and equities beyond traditional market hours.

The trend became especially evident as geopolitical tensions in the Middle East drove volatility in oil prices, pushing traders toward 24/7 platforms for continuous price discovery.

Hyperliquid's native HYPE (HYPE) token has also benefited from the platform's momentum. According to The Block's crypto price page, HYPE is trading at $38.3, up 2.8% in the past 24 hours and 30.6% in the past 30 days.

Meanwhile, Hyperliquid recently announced HIP-4, introducing permissionless prediction market listings, potentially opening up room for further growth of the ecosystem. HIP-4 is currently in the testnet phase.