HYPE Surges 35% as Regulators Clear Path for US Entry
HYPE has been on a tear this week, rising by nearly 35% over the past seven days. The rally began around August 18th when HYPE broke above $60 and quickly pushed through $70.
The strongest catalyst for the surge came after US President Donald Trump announced that Commodity Futures Trading Commission Chair Mike Selig was working to bring Hyperliquid into the United States in a 'fully compliant and legal fashion.'
Traders priced in the possibility of the decentralized derivatives platform gaining a regulated route into the US market, sending HYPE jumping.
The regulatory development was backed by strong activity on the platform, with Hyperliquid generating about $6.2 million in fees in a single day on August 23rd, exceeding the combined fees of several leading blockchain networks.