IOSG Sees Crypto Attention Shift Toward Trading and Stablecoins

IOSG Ventures says crypto industry attention is moving from new-token narratives toward trading and stablecoin infrastructure, with Hyperliquid’s HIP-3 markets posting $64.7 billion in 30-day volume through Oct. 20. HIP-3 markets recorded about $665 billion in cumulative trading volume since launching Oct. 13, 2025. The 30-day total amounted to about 27% of Hyperliquid’s trading volume. Stocks and pre-IPO contracts accounted for about 62% of HIP-3 volume in July 2026. HIP-3 lets outside operators launch perpetual futures markets on Hyperliquid and set their oracles and contract specifications.