HYPE Price Surges as Hyperliquid Eyes US Market Entry
HYPE's native token has seen a significant surge in price, rising from around $57 to the current level of $84. This move is attributed to reports of Hyperliquid Labs' advanced discussions with Payward, the parent company of Kraken, to make selected crypto perpetual futures available to U.S. traders through Bitnomial.
The proposed structure would not simply open Hyperliquid's existing offshore platform to American users but instead allow eligible U.S. traders to access a subset of Hyperliquid-linked perpetual futures through Bitnomial, a U.S.-regulated derivatives exchange and clearing platform.
President Donald Trump previously indicated that U.S. regulators were working to bring Hyperliquid into the country in a compliant manner, further fueling the hype around HYPE's potential expansion into the U.S. market.
A decisive technical breakout has also contributed to HYPE's rally, with the token clearing a multi-month descending channel and reclaiming the $75, $77 resistance zone.