Hyperliquid (HYPE) Rallies 15%; Long Bets Top $50 Million During Sharp Upswing

Hyperliquid (HYPE) rose 14.85% over 24 hours to $91.54 as of 10:40 a.m. ET (14:40 UTC) Thursday, while ICE, the parent of the New York Stock Exchange, and Trade.xyz proposed bringing its perpetual contracts into a U.S.-regulated market. HYPE crossed $90 during the advance, which saw about $1.08 billion in daily notional trading volume. The largest short trader incurred nearly $1 million in stop-losses and had a short position worth more than $50 million.