HYPE Rises Amid Hyperliquid's Regulated Push into US Derivatives Market

Hyperliquid's push into the US derivatives market is gaining attention as its native token HYPE continues to climb. Over the past 24 hours, HYPE has risen by 3.9% to $56.78.

The project is seeking a framework under which regulated US firms could offer perpetual futures that trade and settle through Hyperliquid's public blockchain. Rather than opening its existing decentralized trading platform directly to US users, who are currently restricted from accessing it, Hyperliquid is exploring no-action letters or regulatory guidance that would allow regulated companies to use its infrastructure.

Recent regulatory developments have given the proposal some precedent. Earlier this year, the Commodity Futures Trading Commission (CFTC) allowed the first regulated perpetual futures products in the country, while Kalshi received clearance in May to offer perpetual-style contracts within the US derivatives framework.

The increased regulatory attention is coinciding with high levels of activity in Hyperliquid's derivatives business. HIP-3 has accounted for an increasing portion of that activity, allowing outside builders to deploy perpetual markets after meeting requirements such as staking 500,000 HYPE tokens.