TLDR
- HYPE rose about 17% to $93.74 on Oct. 29, roughly 4.3% below its all-time high of $97.96.
- Intercontinental Exchange (ICE) plans regulated U.S. perpetual futures with trade[XYZ] on Hyperliquid, pending approvals.
- Lookonchain says five whales opened $52.7 million in HYPE longs.
- Michaël van de Poppe targets $110–$120, while Altcoin Sherpa calls the news a possible spark for the next run.
- Kraken parent Payward has a separate plan for regulated Hyperliquid perpetuals in the U.S.
Hyperliquid’s HYPE climbed 17.4% to $93.74 on Oct. 29 after NYSE owner ICE announced plans for regulated U.S. perpetual futures markets built on the network. CoinGecko showed a 24-hour range of $78.11 to $94.35.
The token’s market cap stood near $22.43 billion, with daily volume at $1.73 billion. HYPE sits about 4.3% below its all-time high of $97.96.
ICE Plans a Regulated U.S. Market
ICE signed a definitive agreement with trade[XYZ] to build a U.S. retail market and clearing structure. The plan needs regulatory approval.
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States.
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for…
— trade.xyz (@tradexyz) October 29, 2026
The planned contracts would cover crypto, equities, commodities and foreign exchange. ICE is taking a minority stake in trade[XYZ] and would run the regulated markets on its own.
Hyperliquid said it would supply the infrastructure through HIP-3. Trade[XYZ] would design the markets, and ICE would handle the regulated market and clearing. Existing trade[XYZ] HIP-3 markets will stay unchanged.
Trade[XYZ] said its Hyperliquid markets have handled more than $650 billion in volume in just over a year. Further details on contracts, customer eligibility and launch timing are expected as approvals progress.
Whales and Analysts Weigh In
Lookonchain reported that five whales opened HYPE long positions totaling 597,912 tokens, worth $52.7 million. The alert did not include spot purchase data.
Analyst Michaël van de Poppe tied his outlook to HYPE reclaiming a prior support level after a sweep of earlier lows. He said the token recovered to $85 and wrote, “Matter of time until this pushes towards that $110-120 level.”
Massive news for $HYPE. $110-120 is imminent for $HYPE.
NYSE Owner to bring $HYPE perpetual futures to the regulated US Markets.
Absolutely love to see it, as this pushes the crypto adoption even further.
As a trader, I'm happy.
Other than that, history repeats itself,… https://t.co/9UimO81gnw pic.twitter.com/rH7WIOGlsZ
— Michaël van de Poppe (@CryptoMichNL) October 29, 2026
Measured against $93.74, that range implies gains of about 17.3% to 28%. His post did not set a deadline.
Altcoin Sherpa called the ICE news a possible catalyst for another rally. His chart showed an upward path after trading near a marked support zone, and he wrote, “This might have been what’s needed to spark its next run.”
Separately, Payward, the parent company of Kraken, proposed using Hyperliquid for U.S. onchain perpetuals through its own regulated entities. Bitnomial would create and administer the markets, and NinjaTrader Clearing would carry customer accounts.
Multicoin Capital named HYPE its largest hedge-fund position in an Oct. 19 report. Its June note projected a $319 price by 2028.
On Oct. 29, ICE and trade[XYZ] had not given a launch date, and CFTC approval is still required.
