Trump's Hyperliquid Endorsement Sparks Price Surge Amid Regulatory Work

President Donald Trump's mention of Hyperliquid (HYPE) during a White House meeting sent shockwaves through the crypto market. The HYPE token surged 14% within two hours, rising from $62.23 to nearly $71. This price jump comes after Trump stated that 'I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion.'

Trump's comment refers to Michael Selig, chairman of the Commodity Futures Trading Commission (CFTC). The CFTC has been actively working on regulatory frameworks for decentralized platforms. In July, Hyperliquid filed a petition with the agency asking for tailored DeFi rules.

The market data shows that past crypto endorsements by Trump followed a pattern of short spikes followed by larger price drops. Across eight prior endorsements, asset prices gained 31% on average within 24 hours before turning negative within 30 days. Today, those eight endorsed crypto coins trade at price levels that are 60% lower on average than what they were before Donald Trump backed them.

Traders are watching whether HYPE can maintain its gains above the $62.23 level over the next 30 days. A formal regulatory framework from the CFTC would mark the first time a Trump-backed crypto token secures official legal approval in the United States.