HYPE has risen rapidly recently, from around $57 to near $84, approaching its previous high. One of the reasons that has fueled market enthusiasm is that Hyperliquid is reportedly advancing arrangements for market access in the United States.
US Access Plan Exposed
According to Bloomberg, Hyperliquid Labs is in in-depth discussions with Kraken's parent company, Payward. They plan to offer certain crypto perpetual contracts related to Hyperliquid to American traders through Bitnomial, which is a subsidiary of Payward. Bitnomial is a regulated derivatives trading and clearing platform in the United States.
This arrangement does not mean that the existing offshore platform of Hyperliquid will be directly opened to US users. According to the report, eligible US traders will access some products through Bitnomial rather than using the original Hyperliquid platform directly. The report also states that Payward has submitted the relevant plan to the US Commodity Futures Trading Commission (CFTC), but has not yet received regulatory approval.
After Trump's statement, further catalysts were added
In August of this year, Trump stated that U.S. regulatory authorities were facilitating the entry of Hyperliquid into the U.S. market in a compliant manner. The latest developments are seen by the market as a new catalyst, but the related arrangements are still in the progress stage.
For Hyperliquid, once the US market is opened, it means an expanded reach of users. For HYPE, such expectations often directly reflect in price performance and trading activity.
Prices are approaching the previous high range.
From the trend, HYPE has broken through the downward channel that has persisted for several months and has once again reached the range of $75 to $77. Subsequently, the price further rose to around $83 to $84, not far from the previous recent high of approximately $86.7.
If it subsequently rises to the $86 to $87 range, market attention may shift to the $90 level. The currently more significant support area remains between $75 and $77. If it continues to fall below $75, the short-term strong structure may weaken, and prices could return to the $67 to $70 range for consolidation.
