MRNA Perpetual Volume on Hyperliquid Topped $104 Million

Trading in Hyperliquid’s MRNA perpetual contract accelerated after Moderna’s cancer-vaccine clinical data surfaced early, with rolling 24-hour volume topping $104 million and notional open interest nearly tripling.

The data surfaced Oct. 22 at 12:30 p.m. ET (16:30 UTC). About 362,000 contract units traded over the next three hours, 9.1 times the volume in the preceding three hours. Rolling 24-hour volume later topped $104 million.

Notional open interest, the dollar value of contracts still open, rose from about $6.84 million before the data surfaced to $20.31 million around 2 p.m. ET (18:00 UTC). The number of outstanding contracts climbed from about 30,500 to 108,800.

In the Oct. 23 snapshot, notional open interest had fallen to about $6.27 million, with 30,900 units outstanding, near the pre-event levels. Rolling 24-hour volume was about $94.7 million, and the contract was priced at $203.33.