Hyperliquid Surges 17% After NYSE Owner ICE Strikes Deal for Regulated US Perpetuals

Intercontinental Exchange agreed on Thursday to run a US-regulated version of Trade[XYZ]’s perpetual futures markets, sending Hyperliquid’s HYPE token up more than 15% in a day. HYPE traded at US$92.94 (AU$132) at 5:18 a.m. UTC on Friday, according to CoinGecko. That gave it a market value of about US$22.3 billion (AU$31.7 billion), 10th on CoinGecko’s ranking. Its high over the previous 24 hours was US$96.70 (AU$137). ICE, which owns the New York Stock Exchange, holds exclusive rights to operate those regulated markets. It is also taking a minority stake in Trade[XYZ].