HYPE Token Hits $96 Record as Regulatory Clarity Lifts Crypto Markets
Hyperliquid's HYPE reached a record high after the SEC granted exemptions for onchain stock trading.
Key points
- Hyperliquid's HYPE token reached a record high of $96 with a market cap over $20 billion.
- The SEC granted a five-year exemption for onchain trading of tokenized US stocks.
- Uniswap's UNI gained 40 percent and Avalanche's AVAX rose 47 percent over the past week.
Hyperliquid's HYPE token reached a record high of $96 on Monday. This price level pushed its market value above $20 billion.
The surge followed a decision by the US Securities and Exchange Commission. The agency granted a five-year exemption for trading tokenized US stocks onchain.
Regulatory moves drive token gains
The SEC action came after the Clarity Act failed in the Senate. Regulators are now using existing authority to advance the crypto agenda.
The Commodity Futures Trading Commission is also pursuing a pro-crypto agenda. Monarq Asset Management says this provides a clearer framework for the sector.
Broad market rally in infrastructure assets
Uniswap's UNI token gained roughly 40 percent over the past week. Avalanche's AVAX rose about 47 percent while Ethena's ENA jumped 50 percent.
Ondo's ONDO token increased by approximately 26 percent. Bitcoin also climbed to an eight-month high above $86,000 during the same period.
Risk-on sentiment supports derivatives growth
GSR research notes a broader risk-on shift across markets. Tech equities rose in concert with the crypto sector this week.
Open interest on Hyperliquid reached $8.3 billion according to data. Trading in perpetual futures linked to traditional assets has expanded sharply this year.
