Hyperliquid achieved a significant milestone on July 13, 2026, with total derivatives open interest surging to a new 2026 high of $11 billion to $11.14 billion, driven primarily by explosive growth in real-world asset (RWA) markets. Despite the platform's record activity, the native HYPE token has declined sharply, trading at $63.41 on July 14 and down 6.27% over 24 hours and 10.8% over the past 7 days.