Hyperliquid reclaims $20B market cap – Why HYPE’s recovery faces THESE risks

Hyperliquid's [HYPE] market cap has reclaimed $20 billion after HYPE's brief rally of about 5% in the past 24 hours as of writing. While this resurgence appears to be underway, there are conflicting signals that suggest underlying weakness. Here are the details explaining this view: What's behind the bullish resurgence? The news that Kraken's parent company, Payward, is planning a regulated US Perp launch on Hyperliquid was the driving force behind this small increase. The launch would be enabled through Bitnomial and Ninja Trader Clearing, but it requires approval.