Hyperliquid Open Interest Tops $4.13B as Tokenized Stocks Fuel 229% Jump in Volume

Hyperliquid has set a new milestone in its tokenized real-world asset markets, with open interest climbing past $4.13 billion and daily trading volume surging 229% to $4.87 billion. The figures point to rising demand for blockchain-based access to traditional assets such as stocks, commodities, and indices, as traders seek alternatives to purely speculative crypto exposure. The activity has been driven in part by tokenized equities, which allow 24/7 trading outside conventional exchange hours. Tokenized contracts tied to semiconductor names SK Hynix and Micron Technology ranked among the platform’s most actively traded markets, reflecting continued investor focus on AI hardware. Palantir also drew heavy attention after its shares rose 25.86%, adding volatility across tokenized markets. Hyperscreener ASXN data shows the day’s volume exceeded the capital currently deployed on the platform. The heightened volatility helped push leveraged liquidations above $19.25 million over the past day, underscoring how decentralized derivatives can react to traditional equity moves at the same speed as crypto-native markets. The surge comes as tokenized real-world assets become one of blockchain’s fastest-growing segments. Crypto firms are increasingly racing to bring stocks, bonds, and other financial products on-chain, pitching continuous settlement and global access as advantages over legacy market infrastructure. Even with record activity, liquidity remains highly concentrated. One infrastructure provider is responsible for roughly $4.12 billion of the $4.13 billion in open interest, leaving only a small portion to other deployers on Hyperliquid. The imbalance is already reshaping competition: Felix, an early ecosystem project, recently said it would shut down its markets. Hyperliquid’s economic design continues to favor participants able to lock large amounts of HYPE tokens to launch trading interfaces and capture fee revenue.