The price of Hyperliquid’s native token, HYPE, climbed to a fresh all-time high (ATH) of $77.55 on Aug. 21, extending a rally that accelerated after U.S. President Donald Trump publicly discu
The price of Hyperliquid’s native token, HYPE, climbed to a fresh all-time high (ATH) of $77.55 on Aug. 21, extending a rally that accelerated after U.S. President Donald Trump publicly discussed bringing the decentralized derivatives crypto exchange into the United States.
Hyperliquid is a decentralized exchange offering high-leverage perpetuals trading of cryptocurrencies, commodities, and tokenized stocks. It has become very popular, attracting a large number of high-frequency and speculative crypto traders.
HYPE was trading at $76.04, up more than 5% on the day and more than 35% over the past week. Its market capitalization stood near $16.95 billion.
HYPE/USD, Source: DecibelThe move came alongside a broader crypto rally.
Bitcoin gained 7% to $76,992.58, while Ether rose 4% to $2,381.20, and XRP jumped 18% to $1.41. Total crypto market capitalization increased 5% to $2.66 trillion.
CoinGlass data showed about $1.5 billion in positions were liquidated over 24 hours, including roughly $1.21 billion in shorts.
Related: Trump hosts crypto executives at the White House — and one token surges 19% on his remarks
The price rally follows Trump’s Aug. 19 White House meeting with crypto and traditional finance executives, including leaders from Coinbase, Kraken, Ripple, Robinhood and Gemini.
Trump used the event to promote his administration’s crypto agenda and call for passage of a “fair version” of the CLARITY Act.
During his remarks, Trump specifically singled out Hyperliquid, saying CFTC Chair Michael Selig was:
“Working to bring Hyperliquid into the United States in a fully compliant and legal fashion.”
HYPE was trading around $66 before the remarks and surged above $77 within two days.
The comment was significant because Hyperliquid does not offer its services to U.S. users due to uncertainty over decentralized exchanges and perpetual futures.
U.S. regulators have nevertheless been developing pathways for regulated perpetual-style crypto products, signaling a potentially more accommodating environment for platforms such as Hyperliquid.
Related: Liquidations hit highest level since Oct. 10 crypto market crash
