HYPE Jumps 20% After Trump Mentions U.S. Access Path

HYPE, the native token of decentralized trading protocol Hyperliquid, climbed roughly 20% after comments by President Donald Trump at a White House event.

The token traded near $62 immediately before the president spoke, rose to a 24-hour high of $72.28 and later settled around $70, representing about a 20% gain over 24 hours. Twenty-four-hour trading volume for HYPE reached approximately $1.4 billion.

At the event, President Donald Trump told attendees, “I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion. Working very hard on that.” He referred to Commodity Futures Trading Commission Chair Michael Selig.

The CFTC has not released a formal plan detailing how U.S. access would be implemented, whether an application is under review, or when a compliant service might launch. Hyperliquid has not issued a public roadmap or timetable for U.S. operations.

Shares of Hyperliquid Strategies, a Nasdaq-listed company trading under the ticker PURR, closed Wednesday at $9.39, up about 30.4% from the prior close. The company has publicly stated it is independent and not affiliated with the Hyperliquid protocol.

Options activity in PURR was unusually heavy earlier in the session. Roughly 719 October $8 call contracts were bought for about $0.90 each roughly four hours before the president spoke, an outlay near $65,000. By the close those contracts were quoted near $2.45, valuing the position at about $176,000 and producing an unrealized gain near $111,000.

Market data captured 2,575 of the October $8 calls trading during the session, compared with 67 contracts in open interest at the start of the day. That single-day volume exceeded the contract’s 30-day average by more than 140 times. Public records confirm elevated activity but do not identify the buyer or establish use of nonpublic information.

The CFTC previously disclosed a July 15 meeting with representatives from Hyperliquid Labs and Hyperliquid Strategies. Regulators and the protocol have provided no additional public details following the president’s remarks.