Hyperliquid Soars as Kraken's Parent Company Announces Perpetual Futures Markets
Hyperliquid has broken its all-time high after a significant surge in price. The cryptocurrency rose by 18% to $92.31 on September 19, 2026, with a record high of $94.46 on Coinbase. This impressive gain is attributed to the announcement from Kraken's parent company, Payward, which revealed plans to launch perpetual futures markets on Hyperliquid's blockchain specifically for U.S. clients.
The initiative stems from permits acquired by Payward in May with Bitnomial. The perpetual futures market will be managed by Bitnomial Exchange and settled through Bitnomial Clearinghouse, with NinjaTrader Clearing overseeing customer accounts. However, participation is restricted to traders who meet the approval of both Bitnomial and NinjaTrader.
The price surge can also be attributed to the limited availability of HYPE tokens, with only 26% of the total supply in circulation. This scarcity creates an amplified effect on the price, making it more susceptible to significant changes due to new buying pressure. With a market capitalization of $23.25 billion, approximately 1.4% of Bitcoin's value, HYPE's relatively low circulation contributes to its rapid price fluctuations.