Hype Token Surges to $82 Amid Trump-Driven Momentum and Multicoin Deposits
The Hyperliquid token, HYPE, has reached an all-time high of $82 after surging 38% in just one week. This price increase comes on the heels of President Donald Trump's comment that the Commodity Futures Trading Commission (CFTC) was working to bring Hyperliquid into the United States 'in a fully compliant and legal manner.'
The token's rise can be attributed to the prospect of formal U.S. market access, which would open up new avenues for institutional investors and add fresh demand.
However, Multicoin Capital has been moving large batches of HYPE into Coinbase Prime, an institutional custody and trading platform, sparking concerns about potential sell-pressure.
The venture firm has deposited over $100 million in HYPE into Coinbase Prime since February 2026, with the largest single deposit being worth around $19.8 million.