Hyperliquid Extends Gains Amid SEC Exemption and Near Protocol Launch

Hyperliquid (HYPE) is trading in the green on Friday, extending gains towards $90 after an 8% rise the previous day. The US Securities and Exchange Commission granted an 'Innovation Exemption' for tokenized stock trading on Thursday, allowing DEXs like Hyperliquid to trade with permissioned liquidity pools or Automated Market Makers (AMMs). This move is likely to boost HIP-3 volume on Hyperliquid, which recorded $16.06 billion in volume last week.

Near Protocol launched confidential perpetuals on Hyperliquid, enabling users to trade without revealing their positions publicly. The feature mainly restricts observers from identifying the account behind an on-chain position. Hyperliquid will act as the trading engine for users creating positions on Near perps.