HYPE Token Jumps 15% as Hyperliquid Pushes DeFi Approach to U.S. Regulators

HYPE token surged 15%, reaching an ATH of $37.34 after Hyperliquid’s CFTC regulatory submission. Hyperliquid’s open interest crossed $9B as traders backed its DeFi trading framework. Arthur Hayes bought $2M in HYPE, predicting a $100 target amid growing institutional support. Hyperliquid’s HYPE token climbed over 15% in the last 24 hours, hitting a record price above $35. The surge followed Hyperliquid Labs’ announcement that it had submitted two detailed comment letters to the U.S. Commodity Futures Trading Commission (CFTC). These letters address the agency’s plans for new regulations covering perpetual derivatives and continuous, round-the-clock crypto trading. In their communications with the CFTC, Hyperliquid Labs proposed using decentralized finance (DeFi) as a basis for future regulations. The team explained that DeFi methods can help financial services reach the same efficiency and user safety levels found in traditional financial markets. Hyperliquid’s submission arrives when U.S. regulators seek input on how to govern derivatives products that operate around the clock. The CFTC has requested comments from the public on perpetual crypto … The post HYPE Token Jumps 15% as Hyperliquid Pushes DeFi Approach to U.S. Regulators appeared first on Coin Edition .

Source: Coin Edition