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HYPE jumps as Trump hints at compliant US access for Hyperliquid
The token hit a 24-hour high above $72 after remarks, while PURR call options drew heavy buying and the stock surged.
Hyperliquid’s native token HYPE jumped more than 20% over the past day after a U.S. president signaled regulators were working on a compliant legal pathway for the decentralized trading platform to reach American users, Cointelegraph reported. HYPE traded around $62 before the remarks and later climbed as much as 16% to a 24-hour high of $72.28, before settling near $70.
Cointelegraph said Trump made the comment during a Wednesday White House event, referring to Commodity Futures Trading Commission Chair Michael Selig. The article also noted that neither the CFTC nor Hyperliquid has released a formal regulatory plan or details on how U.S. access would work, including whether any application has been submitted or when a compliant service could launch.
The report added that trading volume reached about $1.4 billion over 24 hours. It also pointed to market repricing tied to the prospect of U.S. access, including a surge in Hyperliquid Strategies, a Nasdaq-listed treasury company trading under the ticker PURR.
According to Cointelegraph, Hyperliquid Strategies closed Wednesday at $9.39, up 30.4%. The article further cited CNBC reporting that, hours before Trump spoke, someone bought about 719 PURR call options with an $8 strike expiring in mid-October, paying roughly $0.90 each and later quoting the contracts at $2.45 by the close, implying an options position value near $176,000 and an unrealized gain of about $111,000.
Latest closeNasdaq Comp. 26,729.16 ▼0.3%