HYPE Token Rallies As NYSE Owner Brings Hyperliquid to America

Intercontinental Exchange, the New York Stock Exchange’s parent, is investing in trade[XYZ] to create a regulated U.S. venue for perpetual futures on Hyperliquid, and the HYPE token rose about 7% on the news. trade[XYZ] runs perpetual futures on Hyperliquid, a platform built on its own blockchain; the contracts track stocks, indexes, commodities and crypto and never expire, and the firm says those markets have traded more than $650 billion in just over a year. Americans cannot currently access those markets. The planned venue requires approval from the Commodity Futures Trading Commission, the U.S. derivatives regulator, and no start date has been announced. The companies have not said whether the U.S. venue would return anything to HYPE.