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

HYPE, Hyperliquid’s token, jumped more than 15% on Thursday after Intercontinental Exchange, owner of the New York Stock Exchange, agreed to bring Trade[XYZ]’s Hyperliquid-based perpetual futures to the US. HYPE traded near $79 early Thursday and near $93 by mid-afternoon UTC. ICE will exclusively operate Trade[XYZ]’s regulated markets and plans a US retail market and clearing structure called ICE[XYZ], pending Commodity Futures Trading Commission approval; perpetual contracts never expire. Trade[XYZ], which uses HIP-3, a Hyperliquid feature letting developers create their own perpetual markets, serves only eligible users outside the US and has logged over $650 billion in volume in just over a year. ICE is also taking a minority stake, with investor Stan Druckenmiller joining as a backer.