Futures open interest topped $3 billion Wednesday morning as Hyperliquid (HYPE) climbed 3.7% in 24 hours, leaving its price about 17% below the September peak despite the rebound.
At 7:18 a.m. ET (11:18 UTC) on Oct. 21, HYPE was quoted at $81.383. It set its $97.96 record on Sept. 23.
Earlier closing prices put the move in context: the Oct. 6 close was $91.91; HYPE finished Oct. 17 at $77.98 and Oct. 20 at $80.35. Those closes are based on UTC dates. Wednesday’s morning quote was above the last two closes but below the Oct. 6 level.
After President Donald Trump said Aug. 19 that he understood CFTC Chair Michael S. Selig was working to enable Hyperliquid to operate legally in the United States, HYPE gained 40.5% over four days. Its record came the following month.
Open interest tracks futures positions that remain active. The reading above $3 billion shows the scale of outstanding positions, but the total alone cannot establish whether traders expect HYPE’s price to rise or fall.
