HYPE token rises 5% as Kraken’s parent plans US perpetuals market launch

HYPE, the native token of Hyperliquid , saw its price increase by 4.8% following news that Kraken’s parent company, Payward, plans to launch a regulated U.S. perpetuals market on the Hyperliquid platform. This development positions Payward as the first Commodity Futures Trading Commission-regulated entity to deploy on Hyperliquid’s HIP-3 infrastructure, which is currently in testnet. The launch will utilize Bitnomial for market creation and NinjaTrader Clearing for handling customer accounts. However, the initiative is still subject to regulatory review before full implementation. Watch for upcoming regulatory decisions, as these could significantly impact Hyperliquid’s market trajectory.