Hyperliquid’s native DeFi token, HYPE, surged 20% in a day to close at $95.49, just $1 below its all-time high. The rally followed Stanley Druckenmiller’s announcement on the trade[xyz] platform, where the investor and ICE, the parent company of the New York Stock Exchange, plan to launch regulated 24/7 perpetual futures trading in the United States. HYPE’s daily trading volume reached $796 million, pushing its market capitalization above $24.2 billion and its fully diluted valuation to $90.7 billion. Elon Musk quoted Druckenmiller’s first post on X with the word “Interesting,” amplifying attention for Hyperliquid, which has distributed more than 76% of its token supply to the community through a model that excludes traditional venture capital funds.
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