HYPE Targets $120 as NYSE Owner Moves to Bring Hyperliquid Perpetual Futures to Regulated U.S. Markets

Intercontinental Exchange, parent of the New York Stock Exchange, announced plans to bring Hyperliquid perpetual contracts to the regulated U.S. market through a strategic partnership with Trade.xyz. Under the plan, Trade.xyz would create a regulated market and clearing structure for perpetual futures pending approvals, Hyperliquid would provide underlying infrastructure via its HIP-3 framework, and ICE would act as specialized administrator and make a strategic investment. After the announcement, Hyperliquid’s HYPE token rose more than 20% to $96.30, below its record $97.96 set last month. Analyst Michael van de Poppe expects HYPE to reach $110 to $120 if the offering launches successfully.