Hyperliquid Token Surges 11% to New All-Time High Above $90

Hyperliquid's token price has surged by 11% to reach an all-time high above $90. The platform's market capitalization has now exceeded $20.3 billion, while its 24-hour trading volume reached $1.622 billion.

The rally comes as Hyperliquid expands the range of products and markets available on its platform. New borrowing options have been launched, allowing users to use HYPE or BTC as collateral to borrow USDC or USDT. This development has added attention to the token's market, which has already gained over 250% since the start of the year.

The recent growth can be attributed to several key factors. The SEC's Innovation Exemption has given certain tokenized securities trading venues a temporary exemption from being treated as an exchange under the Securities Exchange Act of 1934. This allows eligible venues to trade certain tokenized US stocks through approved automated market makers and liquidity pools.