Hyperliquid Surges Past $77 Amid Trump Endorsement and Crypto Market Recovery
Hyperliquid has reached an all-time high of over $77 after a 5% increase on Friday morning, driven by growing bullish sentiment and a major endorsement from US President Donald Trump. This surge represents nearly a 200% gain for the digital asset since the start of the year, despite the overall crypto market remaining in the red. Bitcoin has dropped around 12% year-to-date, while Ethereum has suffered a decline of about 20%.
Trump mentioned Hyperliquid at a White House event this week, stating that the US is working to bring it into the country 'in a fully compliant and legal fashion'. CFTC Chairman Michael Selig is reportedly 'working very hard' on this effort. The prospect of a US launch has already had a significant impact on assets tied to the ecosystem.
HYPE rose following Trump's remarks, while Hyperliquid Strategies surged as much as 31%. This growth suggests that investors view potential US access for Hyperliquid as a competitive threat, with traditional exchange operators Cboe and CME falling sharply. A US launch would give Hyperliquid access to a larger customer base and capital, but the biggest question is how the platform's decentralized model would fit within US requirements.