Hyperliquid's HIP-3 markets have reached a record 7-day moving average volume of $602.6M, accounting for 41% of the platform's total perpetual volume. Analysts project HIP-3 will eventually exceed 50% of all executed volume, serving as the primary driver for USDC inflows to the ecosystem. The sentiment is highly bullish, viewing the expansion into traditional market perpetuals as a "massively under appreciated" growth catalyst for Hyperliquid.