58 percent of on-chain perpetuals: What it means for the Hyperliquid price

Published on 10/22/2026 at 13:22 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

HIP-4 recorded 317 million USD in five-month volume. The Hyperliquid price is 81.59 USD on October 22, 2026, up 1.65 percent.

Network activity and market scope

A report dated October 21, 2026, put Hyperliquid's share of on-chain perpetual activity at 58 percent.
HIP-4 recorded 317 million USD in cumulative volume during its first five months, including 51 million USD in September.
The Hyperliquid price stands at 81.59 USD as of October 22, 2026, 1.65 percent above the UTC daily close of October 21, 2026.
A 3.75 million HYPE token release was assigned to one institutional buyer on October 6, 2026.

Hyperliquid, XCRYPTOHYPE5, Illustration mit AI erstellt.

Hyperliquid (HYPE) accounts for 58 percent of on-chain perpetual activity in a report dated October 21, 2026. According to TechFlow Post, the figure covers Hyperliquid's position in the on-chain perpetual market, while its HIP-4 outcome-market system has expanded the network beyond perpetual contracts, which are futures without an expiry date.

Hyperliquid reaches 58 percent of on-chain perpetuals

TechFlow Post reported that 252 active prediction contracts had been launched by Outcome, trade.xyz and Skew as of October 1, 2026. The same report said external teams must stake 500,000 HYPE to launch a market under the HIP-3 framework, with deploying teams retaining half of the fee revenue under the default structure.

HIP-4 outcome markets use fully collateralized contracts, meaning traders provide the funds needed for the possible payout rather than relying on borrowed capital. Startup Fortune reported that HIP-4 recorded 6 million USD in first-day volume and that a market deployer must stake 500,000 HYPE for six months.

HIP-4 records 317 million USD in five months

TokenPost reported on October 13, 2026, that HIP-4 had reached 317 million USD in cumulative volume during its first five months. September volume was 51 million USD, while the report said the platform's activity remained smaller than that of established prediction-market venues.

TokenPost also reported that soccer World Cup markets represented 89.5 million USD, or 28 percent of cumulative volume, and that 228 markets were active on October 13, 2026. Separately, Coinotag reported that 3.75 million HYPE was released on October 6, 2026, equal to 1.69 percent of circulating supply and assigned to one institutional buyer.

Hyperliquid price and market data on October 22

The Hyperliquid price is 81.59 USD as of October 22, 2026, 1.65 percent above the UTC daily close of October 21, 2026. The daily high is 82.49 USD and the daily low is 79.52 USD. Market capitalization is 20.55 billion USD, ranking Hyperliquid No. 10, while 24-hour volume is 842.18 million USD. Circulating supply is 253.87 million HYPE, according to Investing.com.