Hyperliquid’s token pumped following news of ICE and Trade[XYZ] unveiling plans for US perpetual futures.
Hyperliquid’s native token HYPE surged about 20% Thursday after New York Stock Exchange owner Intercontinental Exchange (ICE) announced plans for US perpetual futures with Trade[XYZ], whose investors include billionaire Wall Street investor Stanley Druckenmiller.
HYPE traded above $96 at the time of writing, up by around 20% in the past 24 hours, according to CoinGecko, flirting with September’s all-time record of $97.96.
Perpetual futures allow traders to take positions on asset prices without an expiration date. Hyperliquid is the largest decentralized exchange in the world to trade such instruments, DefiLlama data shows.
