HYPE, the native token of the decentralized exchange Hyperliquid, has reached a significant achievement. It has become the fifth-largest digital asset regarding open interest in futures, surpassing the well-known Dogecoin. According to Coinglass data, the total value of open positions for HYPE futures has skyrocketed to $2.06 billion, while Dogecoin stands at approximately $1.83 billion.

This milestone emphasizes the potential for HYPE and its role in the futures market. Investors should take particular note of such trends as they might indicate a broader acceptance of new assets in traditional trading environments. As the market evolves, keeping up with these developments will prove crucial for making informed investment decisions.