Hyperliquid hits new all-time high, up nearly 200% this year

Hyperliquid climbed about 5% to above $77 on Friday morning, setting a new record high as bullish sentiment around HYPE continued to strengthen following a mention by President Donald Trump and a strong crypto market recovery.

The digital asset has gained nearly 200% since the start of the year, even as much of the market remains in the red. Bitcoin has dropped around 12% year-to-date, while Ethereum has suffered a decline of about 20%.

Speaking at a White House event this week, Trump said the US is working to bring Hyperliquid into the country in a “fully compliant and legal fashion”. Trump said CFTC Chairman Michael Selig is “working very hard” on the effort.

Hyperliquid has built a major market around perpetual futures, allowing traders to take leveraged positions without traditional expiration dates. Its blockchain-based platform has also attracted activity in contracts linked to traditional assets such as stocks and commodities. It currently operates outside the US and does not officially serve American traders.

The prospect of a US launch immediately boosted assets tied to the ecosystem.

HYPE rose following Trump’s remarks, while Hyperliquid Strategies, whose treasury strategy centers on accumulating HYPE, surged as much as 31%. Traditional exchange operators Cboe and CME fell sharply, suggesting investors viewed potential US access for Hyperliquid as a competitive threat.

A US launch would give Hyperliquid access to a larger customer base and capital. The biggest question is how the platform’s decentralized model would fit within US requirements.

US regulators are creating clearer rules for crypto derivatives and perpetual contracts, but applying those rules to Hyperliquid could require changes that affect its current operating model.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.