Hyperliquid’s improvement proposals, such as HIP-3 and HIP-4, are becoming strong drivers of revenue. They may push the price of HYPE higher in the future.
The latest data explains how HYPE’s price could benefit even while the market remains fearful.
How Oil Trading Demand Boosts Hyperliquid’s Revenue
Daily Open Interest (OI) of HIP-3 markets on Hyperliquid reached a new record of $1.26 billion on March 9. This figure rose sharply from about $500 million the previous month.
HIP-3, or Hyperliquid Improvement Proposal 3, allows anyone who stakes at least 500,000 HYPE tokens to create perpetual futures markets without permission.
This mechanism has transformed Hyperliquid from a crypto-focused DEX into a broader decentralized trading platform. It now supports a wide range of assets. These include cryptocurrencies, commodities, stock indices, and tokenized real-world assets (RWA).
The surge reflects strong capital inflows into tokenized perpetual contracts. Commodities such as precious metals and crude oil are especially popular.
Bloomberg reported that the perpetual contract linked to WTI crude oil generated more than $1.2 billion in trading volume within 24 hours. It surpassed Ether and became the second-most-traded market on the platform.
Economic and political uncertainties have increased volatility in precious metals and oil prices. As a result, traders increasingly turn to this platform. That trend drives higher revenue.
Higher revenue also increases the amount of HYPE bought back through the Hyperliquid Assistance Fund. This mechanism could support HYPE’s price.
Data from Hypurrscan show that the Hyperliquid Assistance Fund has surpassed $1.3 billion in total buybacks through the first week of March.
Arthur Hayes Predicts HYPE Could Reach $150
Arthur Hayes, the founder of BitMEX and one of the industry’s most influential voices, has issued a bullish forecast for the HYPE token.
In his Substack article titled “Hype Man,” Hayes set a price target of $150 for HYPE by August 2026. This target implies roughly a fivefold increase from the current price of around $30.
The main reason lies in the revenue-growth potential of HIP-3 and upcoming proposals.
“My model calls for an increase in revenues from HIP-3 and non-HIP-3 sources from a March total of $843 million to an August total of $1.4 billion,” Hayes predicted.
In addition, Hyperliquid recently announced that HIP-4 will enable permissionless listing of prediction markets. Hayes expects HIP-4 to launch within the next three months. He believes revenue will accelerate further after that.
Despite these positive projections, HYPE currently trades about 40% below its all-time high of $59.5 recorded last September.
Analysis from BeInCrypto highlights the $30–$34 price range as a key boundary. HYPE could rise toward $62 or fall to $25, depending on how it reacts to this zone.
The post Hyperliquid HIP-3 Daily Open Interest Surpasses $1 Billion — What Does It Mean for HYPE Price? appeared first on BeInCrypto.
