Hyperliquid Hits Its Third All-Time High in a Week as Kraken Expands Into Perpetual Futures

Hyperliquid’s HYPE token traded at $95.17 on September 21, 2026, up 4.7% over the past 24 hours and marking the token’s third all-time high in a single week, following previous records of $94.46 set just two days earlier on September 19.

Key Takeaways

• HYPE is up 18.5% over the past week, outpacing Solana’s 13%, Bitcoin’s 8.2%, Ethereum’s 7.6%, and XRP’s 4.6% gains over the same stretch.
• Kraken’s parent company, Payward, announced plans on September 16 to offer perpetual futures trading to US customers, a development analysts point to as one driver behind HYPE’s outperformance.
• HYPE’s limited circulating float, only around 26% of total supply, is also cited as amplifying its price moves relative to more widely distributed major assets.
• Today’s broader market strength, with oil prices falling for a fourth straight day and roughly $262 million in short positions liquidated within a single hour, has lifted the wider crypto market alongside HYPE specifically.

Why Kraken’s Move Matters for Hyperliquid

Hyperliquid is the native token of an exchange built specifically for perpetual futures trading, so competitive developments in that exact market segment carry outsized relevance for HYPE. Payward’s September 16 announcement of US perpetual futures plans through Kraken signals growing mainstream interest in the same trading category Hyperliquid has built its business around, a dynamic that traders appear to be reading as validation of the broader perpetuals market rather than a direct threat.

Where to Buy HYPE

HYPE can be traded directly on Hyperliquid’s own exchange, as well as on major platforms including Binance, OKX, and Bybit. For a look at other platforms accepting crypto, see our crypto casinos guide.

This article is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are volatile; always do your own research before investing.