The cryptocurrency market has become noticeably active over the past few hours, with almost all assets soaring to new multi-month highs. However, some assets, such as Hyperliquid ($HYPE), have performed better than others.
According to CoinMarketCap, over the past 24 hours, $HYPE has risen by more than 22% and reached the $72 mark. This is not far from the all-time high of $76 recorded in June 2026.
The catalyst for the asset's growth was news that Donald Trump is pushing the Commodity Futures Trading Commission (CFTC) to bring Hyperliquid to the U.S. market.
The President stated that Commission Chairman Michael Selig is working to ensure that the Hyperliquid exchange, which specializes in futures contracts, is approved for trading in the United States "in full compliance with the law." He said this during a press conference on Wednesday, August 19th, with technology leaders and federal agency chairs.
As I understand it, Mike [Selig] is also working to bring Hyperliquid to the U.S. market in full compliance with all regulatory requirements and within the framework of the law, said Trump.
The platform continues to gain popularity among traders, as they increasingly turn to 24/7 markets to access certain assets, such as oil, during off-hours for traditional platforms. However, not only the hype around Hyperliquid and Trump's comment led to the asset's rise. Another reason was the sharp recovery of the crypto market as a whole. Over the past 24 hours, bitcoin rose nearly 11.7% to $72,200, and ethereum jumped 19% to $2,311, according to CoinGecko.
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