Hyperliquid surges 22% as Trump signals potential pathway into US market

Key takeaways

• Hyperliquid’s HYPE token surged 22% to $71.91 following comments from President Donald Trump.
• Trump said CFTC Chair Michael Selig is working to bring Hyperliquid into the US through a compliant and legal framework.
• HYPE must overcome resistance between $73 and $76 to challenge its record high of $76.87.

Hyperliquid (HYPE) rallied more than 20% on Wednesday after President Donald Trump revealed that the Commodity Futures Trading Commission is working on a potential regulatory pathway for the decentralized perpetual futures platform to enter the United States.

HYPE jumped 22% to $71.61 following the remarks, approaching its all-time high of $76.87 as optimism surrounding potential US expansion added to a broader cryptocurrency market recovery.

Trump signals compliant pathway for Hyperliquid

Speaking during a White House meeting with cryptocurrency, financial and technology executives, Trump said CFTC Chair Michael Selig was working to establish a legal route for Hyperliquid to operate in the US.

“I understand that Mike [Selig] is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion, working very hard on that,” Trump said. “We would really like to see it.”

The president’s comments do not mean that regulators have approved Hyperliquid to offer its services in the country. However, they confirm that the CFTC is considering how the platform could enter the US while complying with federal derivatives regulations.

The agency authorized the first perpetual futures contracts on registered US exchanges earlier this year, marking an important step toward bringing the popular cryptocurrency derivatives product into the domestic market.

Perpetual futures are derivatives contracts that allow traders to speculate on an asset’s price without an expiration date.

The products account for a substantial share of global cryptocurrency trading but have traditionally been concentrated on offshore and decentralized platforms due to regulatory restrictions in the US.

A compliant pathway could give Hyperliquid access to one of the world’s largest financial markets while potentially attracting greater institutional participation.

However, operating in the country would likely require the platform to satisfy rules governing registration, market surveillance, customer protection, anti-money laundering measures and derivatives trading.

Trump’s comments came during a wider White House gathering involving leaders from the cryptocurrency and traditional financial industries.

Attendees included Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, Robinhood CEO Vlad Tenev, Kraken co-CEO Arjun Sethi and Gemini co-founders Cameron and Tyler Winklevoss.

Nasdaq CEO Adena Friedman and Intercontinental Exchange CEO Jeffrey Sprecher also attended, alongside representatives from Chainlink and venture capital firm Andreessen Horowitz.

Government officials at the meeting included SEC Chair Paul Atkins, CFTC Chair Michael Selig and White House crypto adviser Patrick Witt.

Trump used the event to reaffirm his administration’s ambition to position the US at the forefront of emerging technologies.

“We’re ensuring that America remains the undisputed leader not only in Bitcoin and crypto but also technologies like prediction markets, artificial intelligence and much more,” Trump said.

He also criticized the previous administration’s policies, arguing that they discouraged digital asset innovation in the US.

HYPE approaches all-time high

HYPE climbed 22% to $71.61 after Trump’s remarks, placing the token within reach of its $76.87 all-time high.

The immediate resistance zone sits between $73 and $76. A decisive move above this area could allow HYPE to establish a new record and potentially target the next major resistance near $94.80.

Failure to overcome the $73-to-$76 region could trigger profit-taking after Wednesday’s sharp advance.

The rally also benefited from strength across the broader cryptocurrency market. Bitcoin, Ethereum and Solana recorded substantial gains as a market-wide short squeeze contributed to nearly $3 billion in liquidations over 24 hours.