By Allium Research
Hyperliquid non-crypto perps
28% of OI, doubled in 90 days
Tokenized stocks, indices, commodities, pre-IPO & FX traded as perps on HL via HIP-3 builder books.
By Elton Shehdula, Research Lead @Allium
Other reports
A Four-Year Bug, a 64% Crash, and a Question Nobody Can Close
June 2026
Zcash patched a bug in its privacy layer that could have let someone mint unlimited ZEC, undetected for four years.
Tokenized US Funds Onchain: $14.2B and Compounding
June 2026
Tokenized US money-market and Treasury funds now hold $14.2B in onchain AUM, up roughly 8x in 24 months from $1.7B. Two products split the market: Treasury and government-bond wrappers ($10.7B, 75%) and registered money-market funds ($3.5B, 25%), both backed by short-dated US government paper that passes a Treasury-bill yield through to the holder.
Tokenized Equities Onchain: $3.3B and Growing
May 2026
Tokenized equities now represent $3.3B in onchain exposure across two parallel markets: $1.67B in spot equity wrappers (up 13.6x year-over-year) and $1.67B in Hyperliquid HIP-3 perpetual open interest (up 3.3x in 90 days).