Hyperliquid's native HYPE token jumped from around $62 to as high as $72 today, a move of more than 20%, following comments from President Donald Trump. Trump stated that regulators are working on a compliant US pathway for the decentralized exchange, with Commodity Futures Trading Commission (CFTC) Chair Michael Selig involved in the process.
The price action was preceded by unusual options trading activity, with someone paying around $65,000 for 719 call options on Hyperliquid Strategies, a Nasdaq-listed HYPE treasury company, roughly four hours before Trump's remarks.
Regulatory Scrutiny
According to CNBC, the contracts cost about $0.90 each and closed the session valued at $2.45, an unrealized gain of roughly $111,000 on paper. Options Price Reporting Authority data showed 2,575 of those October $8 calls changed hands during the session, with more than 140 times the contract's 30-day average volume.
Market Impact
HYPE traded near $70 following Trump's remarks, with 24-hour trading volume reaching $1.4 billion, according to CoinGecko. The CFTC had already disclosed a July 15 meeting with Hyperliquid Labs and Hyperliquid Strategies, but neither the CFTC nor Hyperliquid has published a formal proposal detailing how US access would work.
