HYPE Soars Above $90 as Kraken's Parent Company Announces US Perpetual Futures Plans
Hyperliquid's price has broken new ground by reaching an all-time high (ATH) above $90, driven in part by Kraken's parent company, Payward, announcing plans for regulated US perpetual futures using Hyperliquid's infrastructure.
The development follows strong derivative activity and the launch of manual borrowing on Hyperliquid, where users can supply HYPE or Bitcoin as collateral to borrow USDC and USDT directly. This has led to $269 million in borrowed assets across the underlying infrastructure.
Another key catalyst for the price surge is the integration with NEAR Protocol's confidential perpetual futures, which allows traders to keep their positions and trading details private. The regulatory backdrop also remains supportive, with the US SEC granting an exemption for certain tokenized stock trading on decentralized platforms.
The ByBit perpetual contract has reached $91.96, while HYPE is currently trading at around $91.07, up by more than 8% in the past 24 hours. The rising channel that has guided the broader uptrend since late 2025 remains intact, and momentum indicators remain constructive.
The question now is whether HYPE can sustain its breakout above the $90 area and reach the $100 psychological barrier. If it clears this level, the market could enter a new price zone with potential upside milestones at $110 and $120.