Hyperliquid (HYPE) climbed more than 15% on Thursday after New York Stock Exchange owner Intercontinental Exchange (ICE) agreed to bring Trade[XYZ]\u2019s Hyperliquid-based perpetual futures to the US.<\/p>\n
The token traded near $79 early on Thursday, according to CoinGecko. By mid-afternoon UTC, it traded near $93, up more than 16% in a day. That left HYPE about 5% below its record of $98, set on September 23.<\/p>\n
Trade[XYZ] runs its markets through HIP-3<\/a>, a Hyperliquid feature that lets developers deploy their own perpetual futures markets. Hyperliquid\u2019s documentation requires each deployer to stake 500,000 HYPE. Trade[XYZ] said its Hyperliquid markets have passed $650 billion in volume in just over a year.<\/p>\n Under the agreement, ICE becomes<\/a> the exclusive operator of Trade[XYZ]\u2019s regulated markets. It plans to build a new retail market and clearing structure on Hyperliquid for that purpose. Trade[XYZ] said the plan needs approval from the Commodity Futures Trading Commission (CFTC). It calls the planned venue ICE[XYZ].<\/p>\n Planned contracts cover equities, indices, commodities, currencies and crypto. A perpetual contract never expires, so it gives traders short-term exposure without a fixed settlement date. Likewise, customers would reach those contracts through futures commission merchants that join the platform, after identity and anti-money-laundering checks. Evidently, those customers are new to Trade[XYZ], which today serves only eligible users outside the US.<\/p>\n The retail business will run apart from ICE\u2019s institutional futures and clearing franchise. ICE said more than 99% of its participation today is institutional, and its commercial hedgers will bear no exposure to the counterparty risk of retail traders on the new platform.<\/p>\n \u201cWe see these perp markets as additive to our futures markets, not a replacement for them,\u201d said Jeffrey Sprecher, Chair and CEO of ICE.<\/p>\n ICE took a stake in OKX in March, and the two companies run a joint venture called OKXICE. That venture filed<\/a> with the SEC on October 4 to trade tokenized shares of 63 NYSE-listed companies. ICE expects Trade[XYZ]\u2019s contracts to reach customers through the same venture, once it wins its own approvals as a broker-dealer and futures commission merchant.<\/p>\n Thursday\u2019s deal adds a minority stake in Trade[XYZ] itself. ICE said the stake will not have a material impact on its 2026 adjusted financial results. Notably, investor Stan Druckenmiller is joining as a backer.<\/p>\n Trade[XYZ] will keep running its HIP-3 markets alongside the planned US venue. For the US venue, Trade[XYZ] said it will share products, eligibility, and timing as approvals progress.<\/p>\n The post HYPE Price Rises 15% Following NYSE Plan to Bring Hyperliquid Perps to the US<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Hyperliquid (HYPE) climbed more than 15% on Thursday after New York Stock Exchange owner Intercontinental Exchange (ICE) agreed to bring Trade[XYZ]\u2019s Hyperliquid-based perpetual futures to the US. The token traded near $79 early on Thursday, according to CoinGecko. By mid-afternoon UTC, it traded near $93, up more than 16% in a day. That left HYPE […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-245399","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/245399"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=245399"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/245399\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=245399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=245399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=245399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}ICE Builds a Separate Retail Venue<\/h2>\n
ICE Takes a Stake in Trade[XYZ]<\/h2>\n