Hyperliquid Token Soars 20% Following Trump's Announcement on US Regulatory Compliance
The HYPE token climbed to $72 following President Trump's statement that the CFTC is working toward compliant access for Hyperliquid in the United States, despite the absence of any official regulatory framework.
The native cryptocurrency of Hyperliquid experienced a significant rally exceeding 20% within a 24-hour period following President Donald Trump's announcement that United States regulatory authorities are developing a compliant framework to enable Americans to access the decentralized exchange platform.
According to data from CoinGecko, HYPE was changing hands near the $62 level just prior to Trump's public statements, before spiking up to 16% and reaching an intraday peak of $72.28 throughout the 24-hour trading period. The token eventually stabilized around the $70 mark, representing approximately a 20% increase over the past day, while trading volume for the period reached $1.4 billion.
"I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion," Trump said during a Wednesday White House event, referring to Commodity Futures Trading Commission (CFTC) Chair Michael Selig. "Working very hard on that."
The favorable market response demonstrates how the possibility of legal US access might influence the valuation of HYPE and corporations that hold the token in their treasuries. That said, neither the CFTC nor Hyperliquid has made public any detailed proposal outlining the mechanics of US access, whether any formal application has been filed, or the anticipated timeline for launching a compliant offering.
$65,000 options bet on HYPE treasury firm raises eyebrows
In related developments, Hyperliquid Strategies, a company listed on the Nasdaq that holds HYPE in its treasury and trades under the symbol PURR, concluded Wednesday's trading session at $9.39, marking a 30.4% gain, based on data from Yahoo Finance. The company has clarified that while it shares the protocol's name, it operates independently and maintains no formal affiliation with Hyperliquid.
According to reporting from CNBC, approximately four hours prior to Trump's remarks, an unidentified trader allegedly spent around $65,000 to acquire 719 call option contracts on PURR shares with an $8 strike price set to expire in mid-October. These contracts were bought at approximately $0.90 per contract and were valued at $2.45 each by market close, bringing the total position value to roughly $176,000 and generating an unrealized profit of approximately $111,000.
Time-delayed market information sourced from the Options Price Reporting Authority confirms the exceptionally high level of trading activity in this particular contract. Data from OptiView indicated that 2,575 of the October $8 call contracts changed hands during the trading session, a stark contrast to the mere 67 contracts that represented open interest prior to the day's activity. The volume recorded was more than 140 times higher than the contract's average over the preceding 30 days.
While the publicly accessible data validates the unusual surge in trading activity, it does not independently reveal the identity of the purchaser or provide definitive proof that the reported 719-contract transaction was executed based on material nonpublic information. No concrete evidence of insider trading has emerged, and it is worth noting that the CFTC had previously made public a July 15 meeting that included representatives from Hyperliquid Labs and Hyperliquid Strategies.