HYPE Price Rises 15% Following NYSE Plan to Bring Hyperliquid Perps to the US

ICE says more than 99% of its market participation is institutional today. The retail perps get their own clearing structure, which ICE says keeps its hedgers clear of retail counterparty risk. Hyperliquid (HYPE) climbed more than 15% on Thursday after New York Stock Exchange owner Intercontinental Exchange (ICE) agreed to bring Trade[XYZ]’s Hyperliquid-based perpetual futures to the US. The token traded near $79 early on Thursday, according to CoinGecko. By mid-afternoon UTC, it traded near $93, up more than 16% in a day. That left HYPE about 5% below its record of $98, set on September 23. Trade[XYZ] runs its markets through HIP-3, a Hyperliquid feature that lets developers deploy their own perpetual futures markets. Hyperliquid’s documentation requires each deployer to stake 500,000 HYPE. Trade[XYZ] said its Hyperliquid markets have passed $650 billion in volume in just over a year. ICE Builds a Separate Retail Venue Under the agreement, ICE becomes the exclusive operator of Trade[XYZ]’s regulated markets. It plans to build a new retail market and clearing structure on Hyperliquid for that purpose. Trade[XYZ] said the plan needs approval from the Commodity Futures Trading Commis...