HYPE jumps 41% as Trump backs CFTC path for Hyperliquid US

HYPE rose 41 percent over the past week to $81.89 after President Donald Trump said the CFTC is working to bring Hyperliquid into the United States under a compliant framework, opening a potential onshore pathway for the perpetuals venue.

Trump, speaking at a White House event on financial innovation and crypto policy, said CFTC Chairman Michael Selig is working to bring Hyperliquid into the U.S. "in a fully compliant and legal fashion," according to remarks cited by multiple outlets.

HYPE touched an all-time high near $86.71 on Aug. 27 before pulling back, with 24-hour trading volume above $2 billion and open interest exceeding $8 billion. The token has gained almost 200 percent since the start of 2026, while Bitcoin fell about 12 percent and Ethereum dropped roughly 20 percent over the same stretch.

A compliant U.S. launch would open Hyperliquid to American traders who are currently restricted, expanding volume and fee revenue. Prediction markets now price a 67 percent chance HYPE reaches $100 by year-end, though a $1.2 billion token unlock scheduled for Aug. 29 could test near-term demand.

CFTC Pathway Would Mark a Shift for Onshore Derivatives

Hyperliquid currently restricts access for U.S. persons, and its official interface remains unavailable to anyone physically located or resident in the United States. The platform's core product lets traders open leveraged positions on cryptocurrencies and select traditional assets without fixed expiration dates, and it has built a dominant position in decentralized perpetuals.

A U.S. entry would require Hyperliquid to build a compliance layer satisfying CFTC derivatives rules, including customer due-diligence, surveillance, and reporting requirements. The agency opened a pathway for regulated Bitcoin perpetual products in 2026, and Selig has publicly supported U.S.-listed crypto perpetual futures, providing a template for how Hyperliquid could structure an onshore venue.

The remarks also align with the CLARITY Act, which aims to establish federal standards for digital marketplaces and clearinghouse requirements. Clearer rules would reduce legal risk for platforms like Hyperliquid and their token holders.

Token Unlock and Coinbase Integration Test the Rally

The rally faces a near-term supply test. A $1.2 billion unlock on Aug. 29 will release 14.18 million HYPE, about 1.4 percent of total supply and 2.7 percent of market value, with nearly half going to early investors.

Offsetting that, Coinbase integrated up to 50x perpetual futures via Hyperliquid infrastructure into its Base app, routing some user perp trading through Hyperliquid's stack. The integration strengthens distribution and legitimacy for the protocol.

Market structure also amplifies moves. One large HYPE short holder has lost more than $70 million over three months and still carries a position of about 685,744 HYPE valued near $54.9 million, with a liquidation price around $101.15. A push toward that level could force covering and add buying pressure, while the broader crypto market saw nearly $3 billion in liquidations over 24 hours, about $2.7 billion of them shorts.

For investors, the regulatory narrative is now partly priced into HYPE after the sharp run. Sustained gains above the recent all-time high near $86.71 would open a path toward $90 and $100, but concrete CFTC filings and higher platform volume will determine whether the rally holds. Any regulatory delay or a broad market downturn could trigger rapid profit-taking.

This article is for informational purposes only and does not constitute investment advice.