Hyperliquid Surges Past Bitcoin, Reaches New All-Time High
The price of Hyperliquid (CRYPTO:HYPE) surged to an all-time high of $94.46, outpacing Bitcoin's 5% weekly gain. According to Coinbase, HYPE hit a record high on September 19, 2026, with a market capitalization of $23.25 billion.
The significant increase in HYPE's value can be attributed to an announcement from Kraken's parent company, Payward. On September 16, they revealed plans to debut regulated HYPE perpetual futures on Bitnomial, a CFTC-regulated US exchange. This move is expected to create new markets on Hyperliquid's chain.
The limited availability of HYPE tokens plays a crucial role in the price surge. With only 26% of its maximum supply currently circulating, every dollar of new buying pressure has an amplified effect on the HYPE price. Payward must stake 500,000 HYPE tokens, which amounts to about $46 million at the current price of $92.31, before listing a single contract.