Hyperliquid Open Interest Jumps 100x in Six Months as On-Chain RWA Trading Gains Momentum

Hyperliquid (HYPE) has moved into the center of crypto market chatter as traders turn to new on-chain venues—especially derivative markets linked to real-world assets (RWAs) such as equities and commodities. Data cited from CoinMarketCap show open interest on Hyperliquid climbing to a record $1.43 billion, up more than 100x over the past six months. The jump has been tied to rapid growth in the platform's HIP3 markets, which let users trade derivatives directly on-chain without traditional intermediaries. Demand has been driven by interest in tokenized exposure to RWAs, expanding activity beyond purely crypto-native assets toward markets that resemble traditional finance. The surge is also showing up in revenue and flows. Over the past 24 hours, Hyperliquid generated more than $2.1 million in fees and recorded about $50 million in net inflows. Artemis data also place Hyperliquid at the top of daily fee generation across chains, ahead of major competitors. On the price side, HYPE has broken out of a recent consolidation range, pushing toward the $42–$44 area. RSI readings point to strong buying pressure alongside short-term overbought conditions, while MACD suggests momentum continues to build. The broader structure remains constructive, marked by higher highs and higher lows, though a brief pullback or consolidation would be typical after an outsized move. Hyperliquid's open interest reaching $1.43 billion, paired with $2.1 million in daily fees and roughly $50 million in inflows, underscores accelerating traction in on-chain derivatives tied to RWAs.