Hyperliquid Token Pulls Back Amid Regulatory Review

Hyperliquid's (HYPE) token has been trading near $88.45-$89.87, down from its peak of $97.88 reached in late September.

The price drop comes as the Hyperliquid Policy Center requested European regulators to classify perpetual futures as standard derivatives under MiFID II, arguing that financial instruments should keep their usual legal treatment even when trading on a public blockchain.

A Grayscale ETF reportedly bought $4.96 million worth of HYPE, according to an analyst on X, indicating fresh buying interest tied to institutional products.