Crypto

Hyperliquid overtakes three rivals in open interest as Q3 positions rise 80%

Hyperliquid passed Bybit, Kraken and OKX on open interest, a measure of trades still running. Its positions grew 80% in the third quarter, and the HYPE token has fallen 26% from its peak.

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Open interest is the total value of derivative positions that have not yet been closed. Latin American exchange Bitso has expanded access to HYPE, so its more than 10 million users can reach over 200 Hyperliquid markets through the platform they already use.

Hyperliquid's revenue is near record levels, and the firm uses all of it to fund buybacks. The HYPE token is testing a support zone between $68 and $70, and it rose more than 4% from its daily low after the Bitso news.

Bitcoin$64,248down −21.80%over 1 month
$84,082$64,12016 Oct15 Nov

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