https://digitalassetradar.com/tags/defi/Recent content in Defi on Digital Asset RadarHugoen-usSun, 05 Jul 2026 12:35:21 +0000https://digitalassetradar.com/analysis/hyperliquid-hip-3-explained/Sun, 05 Jul 2026 12:35:21 +0000https://digitalassetradar.com/analysis/hyperliquid-hip-3-explained/<p>Hyperliquid HIP-3 is the October 2025 upgrade that made perpetual-futures markets on Hyperliquid permissionless — anyone can now launch a trading venue on its matching engine, provided they stake 500,000 HYPE tokens as collateral. Instead of the expected explosion of competing markets, HIP-3 triggered a purge: as of mid-June 2026, a single venue called Trade XYZ controls roughly 97% of all HIP-3 volume, according to Coin Bureau&rsquo;s analysis. The token behind the network, HYPE, is up about 173% year-to-date while most of crypto trades sideways.</p>