About this Chart

Groupings:

This chart tracks notional trading volume — the USD value of perp contracts traded in each period, covering Hyperliquid core plus all HIP-3 builder deployments. The Groups control re-slices that same metric:

• Total — volume across everything combined, shown as a single series.
• Market — broken out per individual market/coin (BTC, ETH, SOL, …), plus an OTHER bucket covering the tail beyond the top markets.
• Market Category — broken out by asset class (Crypto, Stock, Index, ...).
• RWA — the real-world-asset view: Crypto vs RWA.
• HIP-3 — broken out per HIP-3 builder deployment.

Note: the Total / Market / Market Category / RWA slices are complete and reconcile to one another. The HIP-3 slice covers HIP-3 venues only — Hyperliquid core is filtered out of it — so it does not sum to Total. When this metric is aggregated over time, the values in the period are summed.