Hyperliquid's HIP-3 open interest has just surpassed $4 billion for the first time in history. This data shows that leveraged funds are pouring in recklessly, but it doesn't say whether the direction is long or short—don't rush to chase. The contract market fears record-high OI the most; once the direction reverses, a cascade of liquidations will teach you a lesson. If you're in cash, just watch from the sidelines; if you're holding positions, remember to tighten your stops and cut losses.
$HYPER