Hyperliquid (HYPE) token surges 194% as US regulators approve perpetual futures

The Hyperliquid (HYPE) cryptocurrency token jumped 194% in 2026, reaching near an all‑time high of $77. The rise has drawn attention to the token’s rapid appreciation and its reliance on perpetual futures, a product that until recently was unavailable to U.S. traders due to regulatory concerns over leverage. In early June, the CFTC‑regulated exchange Kalshi became the first domestic platform to offer perpetual futures, and major U.S. brokers such as Coinbase and Robinhood have signaled interest in entering the market. Analysts note that Hyperliquid faces increasing competition as the “wild‑west” period for perpetual futures ends.

Technical analysis shows HYPE consolidating above the $62 support level, with bullish momentum persisting despite recent ETF inflow slowdown. Spot HYPE ETFs recorded a first net outflow on June 5 after 16 days of multi‑million‑dollar inflows, but trading volume remains steady. The token’s price now oscillates between $59 and $78, and further upside could test resistance near $75‑$78, while a breach of $62 could shift focus to lower support zones.