Decentralized exchange Hyperliquid has become a popular destination for speculating on oil prices.
CME and NYSE owner ICE are urging U.S. regulators to scrutinize Hyperliquid over manipulation and sanctions concerns.
Alternative cryptocurrencies outperformed Bitcoin on Thursday as Hyperliquids HYPE token rallied sharply following the launch of Bitwises new Hyperliquid ETF and expanding institutional adoption across the blockchain sector. While Bitcoin (BTC) continued trading below its 200-day simple moving average near $79,281, altcoins gained momentum amid rising investor interest in decentralized finance and tokenized assets.
Kraken said that it added HYPE and XAUT to its collateral currency lineup for Kraken Pro traders. According to the announcement, the expansion brings Kraken's eligible collateral assets to 56 across margin, derivatives and Flexline products.
Hyperliquid price remained volatile this week after rebounding sharply from a recent pullback, while growing institutional involvement and the launch of new spot exchange-traded products strengthened bullish sentiment surrounding the decentralized trading protocol. According to data from crypto.
Hyperliquid faces fresh regulatory pressure as CME and NYSE raise concerns around HYPE trading
Hyperliquid's (HYPE) token rose 6.5% in the last 24 hours, reaching $47, its highest level since October 2025. It now trades around $43. Bitwise's HYPE spot ETF (BHYP) debuted with a 0.34% fee, offering a one-month waiver for the first $500 million in assets.
The Coinbase partnership raises questions on USDC's dominance and HYPE's supply dynamics.
Fresh U.S. ETF launches and Coinbase's Hyperliquid deal helped fuel HYPE's rally this week, but technicals warn of a possible pullback.
Coinbase and Circle's commitment to Hyperliquid's AQAv2 upgrade sent HYPE up to roughly $45 on May 14, a deal that makes USDC the platform's aligned quote asset and directs the vast majority of reserve-yield revenue back to the protocol.
The Coinbase deal could inject over $160 million annually for HYPE buybacks and other token accrual programs.
HYPE, reached a yearly high of $46.93, soaring 17% in 24 hours following news that Coinbase will stake HYPE to activate AQAv2. The Shift to USDC Integration HYPE, the utility token of the decentralized exchange and layer 1 protocol Hyperliquid, surged to $46.93 on Friday, its highest point this year.