Hyperliquid’s HYPE Token Hits ATH Amid CFTC Compliance Talks—Wall Street Already Side-Eyeing the Move

Hyperliquid’s native token HYPE surges to record highs as the DeFi platform engages with US regulators—because nothing pumps a crypto like the faint whiff of legitimacy.

Behind the scenes: The CFTC chat signals a potential US on-ramp, but let’s see how long it takes before the usual ’innovation-stifling’ complaints start rolling in.

Bonus jab: TradFi analysts currently scrambling to explain why their ’regulated’ products yield half as much as this ’speculative asset.’

Hyperliquid trades at an all-time high

The native token, HYPE, continued its growth to a new all-time high. HYPE recovered and continued its rally with near-vertical gains, to $34.69. HYPE briefly peaked above $35.10, becoming one of the trending tokens for the second day in a row. 

HYPE open interest also expanded to an all-time high of $1.15B, with near-record trading volumes of $500M. HYPE once again revived its community hype, as being one of the airdrop tokens that share the platform’s profits, and appreciate without insider selling. The confidence in HYPE may lead to an extended rally, especially after the growth of open interest on the exchange. In the past week, Hyperliquid posted several records, with open interest rising above $8.9B for all markets.

The HYPE rally also led to liquidations for Leveraged whales that bet against the token. One of the whales took a position valued at over 30.5M USDC. The position closed with over $23M in losses after a few hours of the HYPE rally. 

The Hyperliquid ecosystem aims to rival solana with its native chain and the Hyperliquid EVM, compatible with Ethereum. Hyperliquid also expects inflows from other ecosystems, as Layer Zero recently introduced a new bridge for stablecoins and other tokens.

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