HYPE jumps 20% as Trump signals legal US path for Hyperliquid
HYPE reached $72 after Trump said the CFTC was pursuing compliant US access for Hyperliquid, though no formal regulatory plan has been released.
Hyperliquid's native token, HYPE, experienced a 20% surge in value following comments made by US President Donald Trump. During a White House event, Trump mentioned that the CFTC was working towards a compliant pathway to bring Hyperliquid to the United States. Prior to Trump's remarks, HYPE was trading around $62, but it quickly rose to a 24-hour high of $72.28, a 20% increase, according to CoinGecko.
The token settled to approximately $70, indicating a significant 20% rise within the day. Trading volume in the last 24 hours reached $1.4 billion.
Republican President Trump also expressed support for Mike Selig, the Chair of the CFTC, in making Hyperliquid available in the US. However, neither the CFTC nor Hyperliquid has officially released a plan detailing the procedure for US access to the token or service. The market's reaction to this news emphasizes the potential impact a US regulatory approval could have on HYPE and companies such as Hyperliquid Strategies, a Nasdaq-listed entity trading under the ticker PURR.
Shares of Hyperliquid Strategies closed at $9.39, marking a 30.4% increase, according to Yahoo Finance. Although the company claims independence from Hyperliquid, the similarity in their names and the substantial rise in its stock price signal investor interest in Hyperliquid's prospects.
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