Hyperliquid now has 41% more open positions than before 10/10

10/10 erased half of Hyperliquid’s perp OI in ten minutes. OI fell from $12.1b to $6.0b, while open positions dropped from 190.6k to 124.8k. Nearly ten months later, open positions have climbed to 328.5k. That is 41% above the pre-crash high. OI has recovered to $10.7b, but remains 31% below its $15.5b pre-crash peak. https:\/\/app.coinmarketman.com\/hypertracker\/stats That changed the structure of the market. Average OI per open position fell from roughly $66.7k before the crash to $32.5k today. Active perp traders are also back near record highs. Hyperliquid rebuilt participation faster than gross exposure. The venue now supports far more positions, with roughly half as much OI attached to the average position. Smaller average size does not automatically make the market safer. Large positions can still dominate risk, and position count does not equal unique traders. But the recovery since 10/10 came through breadth before leverage fully returned.