Hyperliquid's global perpetual contract market share reached a record high of 6.63%, with HIP-3 trading volume exceeding $62 billion in March.

CoinFeed reported on June 4th that, according to The Block, Hyperliquid's share of the global perpetual contract market reached a record high of 6.63% in May. This compares to Binance's record 14.4%. HIP-3, the framework that Hyperliquid uses to deploy perpetual contracts, saw a trading volume exceeding $62 billion and open interest of $3 billion in May. In the past month or two, Binance launched stock and pre-IPO perpetual contracts, with a cumulative trading volume of $280 million in the first five days. In contrast, HIP-3's $62 billion trading volume in May demonstrates its significant lead, and Binance's entry has not yet had a substantial impact. It's worth noting that Hyperliquid's pure cryptocurrency trading volume declined significantly year-over-year, reflecting the overall downturn in the crypto market, similar to other exchanges.