Hyperliquid’s total open interest surged to approximately $11.07 billion on July 13, 2026, marking its highest level of the year, according to data from DeFiLlama cited by Wu Blockchain. The figure later edged down to around $10.88 billion, but remained close to the $11 billion zone, signaling sustained derivatives activity on the decentralized platform.
A major driver was the HIP-3 market segment, which contributed roughly $3.69 billion in open interest—a new record. Simultaneously, real-world asset (RWA) open interest hit an all-time high of about $3.6 billion, as reported by MSB Intel, underscoring growing demand for tokenized asset derivatives. The record RWA figure highlights increased institutional participation and interest in decentralized derivatives tied to traditional financial instruments.
Technical analysis showed open interest rebounding strongly from an early 2026 low near $5 billion, forming higher lows and higher highs. The current $11–12 billion zone acts as resistance; a clean break above could bring $13–15 billion into play. Support sits at $9–9.5 billion, with deeper support at $6–7 billion where the recovery began. The elevated open interest points to leverage build-up, though it does not indicate directional bias.
