Key Insights:
- The HIP-3 upgrade by the Hyperliquid crypto would allow developers to create perpetual markets without permission.
- HYPE price rises 12% to around $42 as traders anticipate the update.
- The Hyperliquid upgrade boosts transparency and strengthens Hyperliquid’s DeFi position
Hyperliquid crypto (HYPE) will activate its HIP-3 network upgrade today, allowing developers to create new perpetual futures markets without permission.
The move comes as HYPE price climbs 12% to about $42, raising talk of a possible new all-time high.
HIP-3 Brings a New Phase for Hyperliquid Crypto
In a major development, Hyperliquid crypto is preparing for one of its biggest updates yet.
The network upgrade, known as HIP-3, will allow anyone who meets the set conditions to create perpetual futures markets on the platform.
The announcement came through the project’s Discord channel, confirming that the update would be enabled on Oct. 13.
An administrator of the HYperliquid crypto explained that HIP-3 will be part of a broader network upgrade.
Once activated, developers who stake 500,000 HYPE tokens will be able to set up their own perpetual decentralized exchanges (DEXs) on HyperCore.
According to a document shared by the team, HIP-3 is designed to make the listing of perpetual markets more open and decentralized.
It introduces rules and safety systems, such as validator penalties and limits on open positions, to protect users and the network.
Hyperliquid has also built HIP-3 to work with HyperEVM, which supports smart contracts and network governance.
The aim is to give builders more control while keeping the system transparent.
Although users will not see immediate changes, the upgrade lays the foundation for broader participation and innovation on the platform.
This update could also attract developers who want to build or experiment with decentralized trading systems.
Notably, by removing permission barriers, Hyperliquid is moving closer to full decentralization, where market creation is open to all qualified builders.
HYPE Price Gains as Upgrade Nears
HYPE price has seen a sharp rise following the news of the network upgrade.
According to CoinMarketCap, the token gained about 12% in the past 24 hours, trading around $41.94.
Data shows its market value has grown to about $14.1 billion, while trading volume stood at over $800 million.
The jump in the Hyperliquid crypto price indicates rising interest from traders and investors as they anticipate the new upgrade.
Many see HIP-3 as a major step that could increase the network’s use and visibility within the decentralized finance space.
Still, it remains to be seen whether the momentum will continue after the upgrade goes live.
Market reactions to new updates can vary, and price movements often depend on how well the changes perform once released.
If HIP-3 leads to more activity and participation on the platform, HYPE could maintain its upward trend and possibly test its earlier record levels.
For now, traders appear to be responding positively to the clear roadmap and transparency of the project.
The upcoming rollout has also brought fresh attention to Hyperliquid’s approach to decentralized trading and its growing presence in the wider crypto market.
Hyperliquid Edge Over Centralized Exchanges
It is important to add that as the upgrade approaches, conversations have grown around the model of Hyperliquid crypto and how it compares with centralized exchanges.
A community member known as Jeff noted on X that Hyperliquid’s liquidation process is fully recorded on-chain.
This means every trade and liquidation can be verified by anyone in real time.
He pointed out that this level of openness makes Hyperliquid different from many centralized exchanges, which often report fewer liquidation events than actually occur.
On some platforms, only a fraction of these transactions is shown publicly, which can hide the real scale of trading activity.
By contrast, Hyperliquid allows users to see every movement on the blockchain. This transparency helps users confirm the fairness and solvency of the system at any time.
Many in the crypto space see this as an important feature for the future of trading.
As HIP-3 launches, Hyperliquid’s mix of open access, transparency, and decentralization could strengthen its place in the market.
It might also encourage other projects to adopt similar models that promote fairness and visibility across the system.