HYPE Token Surges as Hyperliquid Eyes Regulated US Entry
Hyperliquid's HYPE token exploded 20% in price over the past 24 hours, reaching $70.44 on Aug. 20, after US President Donald Trump hinted at a possible regulated entry into the US market.
The rally was triggered by comments from Trump at the White House on Aug. 19, where he mentioned that Commodity Futures Trading Commission Chair Michael Selig was working to bring Hyperliquid into the US in a 'fully compliant and legal fashion.'
Trump's remarks added new detail to reports from the previous week that Hyperliquid was exploring a regulated route into the US market.
The project's decentralized trading protocol specializes in perpetual futures, which have faced tighter restrictions for US retail traders than in many offshore markets.
Momentum has strengthened considerably, but the Average Directional Index (ADX) would need to continue rising alongside price to support an extension of the rally.