HYPE token rises 5% as Kraken’s parent plans US perpetuals market launch

kraken phone HYPE, the native token of Hyperliquid, saw its price increase by 4.8% following news that Kraken’s parent company, Payward, plans to launch a regulated U.S. perpetuals market on the Hyperliquid platform. This development positions Payward as the first Commodity Futures Trading Commission-regulated entity to deploy on Hyperliquid’s HIP-3 infrastructure, which is currently in testnet. The launch will utilize Bitnomial for market creation and NinjaTrader Clearing for handling customer accounts. However, the initiative is still subject to regulatory review before full implementation. Key Takeaways The recent surge in HYPE’s price appears to be consistent with positive reception to Kraken’s parent engaging with regulated perpetual markets. Market pricing suggests a moderate likelihood of Hyperliquid reaching the $100 target by the end of 2026, with current odds at 23% for a December 31 resolution. The anticipated regulatory approval could further influence Hyperliquid’s market perception and volume. What to Watch Watch for upcoming regulatory decisions, as these could significantly impact Hyperliquid’s market trajectory. Additionally, developments related to the full deploy...