HYPE Soars on Rumors of US Market Expansion
The price of HYPE has surged from around $57 to the $84 area, putting it close to its recent all-time high. This rise comes as Hyperliquid eyes a potential U.S. market entry, with reports suggesting they're in 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 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. Payward has reportedly presented the framework to the Commodity Futures Trading Commission (CFTC), but regulatory approval remains outstanding.
With this potential expansion, traders are watching whether HYPE can convert its recent breakout into a sustained move toward $100. The critical support remains the former breakout zone around $75, $77, and holding that area on any pullback would preserve the bullish market structure.