The open interest on Hyperliquid's HIP-3 market has surged to approximately $2.38 billion, maintaining a high level of around $2.1 billion. This marks a year-to-date increase of about 580%, driven largely by demand for non-crypto assets. Among the top ten trading markets on the platform, only three involve crypto pairs, while the rest are tokenized stocks and commodities such as the Nasdaq Index, S&P 500, crude oil, gold, and silver. The primary factor behind this growth is the demand for 24/7 trading of traditional assets, which HIP-3 facilitates through on-chain settlement and a non-intermediary structure. This allows investors to trade stock and commodity exposure continuously, unlike traditional markets with limited trading hours. TradeXYZ is a significant contributor, accounting for over 90% of the open interest in HIP-3, thus serving as the main source of liquidity in this market segment.