Hyperliquid Launches HIP-3 Upgrade for Decentralized Trading
Hyperliquid is set to activate its HIP-3 upgrade on Monday. This move will introduce permissionless perpetual market creation on its decentralized derivatives platform.
HIP-3 enables builders to deploy perpetual futures markets on HyperCore by staking 500,000 HYPE tokens. This upgrade follows a massive $19.3 billion market-wide liquidation event, with $10 billion cleared on Hyperliquid alone.
The HYPE token price has recovered from $20 to $42, aiming to break above the $45 resistance. This aligns with its 20-day SMA.
According to Hyperliquid’s official Discord, the network upgrade will go live on Oct. 13. While existing users won’t see immediate changes, builders meeting on-chain criteria can start deploying their own perpetual markets.
Under HIP-3, deployers can launch decentralized perpetual exchanges on HyperCore by staking HYPE tokens.The system integrates with HyperEVM, offering smart contract support and governance capabilities. To ensure market integrity,HIP-3 introduces safeguards like validator slashing mechanisms and open interest caps.
A minimum viable product of this feature was previously live on testnet. Today marks its official mainnet rollout.
HYPE recovers as Hyperliquid weathers $10B liquidation.The HIP-3 rollout comes just days after one of the most turbulent weekends in crypto markets this year. A massive leverage flush across major exchanges wiped out roughly $19.3 billion in positions, with over $10 billion in liquidations occurring on Hyperliquid alone, according to Coinglass data.
Meanwhile, Hyperliquid’s native token HYPE is staging a strong rebound after last week’s drop to the $20 level. Now trading near $40,the token is attempting to reclaim the ascending trendline support,now acting as resistance,that has guided price action since late May.The $45 zone,aligning with the 20-day SMA,remains the short-term resistance. A prosperous breakout above it could set the stage for a move toward $52, corresponding to the most recent swing high.
Source: TradingView
