HYPE Skyrockets Past $70 as Trump Reveals CFTC Push for Hyperliquid’s US Entry

Cryptopotato2026/08/19 19:42

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The cryptocurrency market was revived over the past several hours, with essentially all assets rocketing to new multi-month peaks. Some assets, though, performed better than others, including Hypeliquid’s native token.

HYPE surged by nearly 10% from bottom to top, tapping $71 minutes ago. It came just inches away from its June 2026 all-time high of $76 before it was stopped and pushed to just under $70.

The major boost came after reports emerged that US President Donald Trump pushed the CFTC to bring Hyperliquid to the US.

The other notable reason behind HYPE’s major rally today was the broader market’s resurgence. Bitcoin skyrocketed to over $69,000 for the first time since June. Ethereum followed suit with a run to $2,100; XRP is well above $1.05, and so on.

The unexpected rally, given the overall market sluggishness over the past few weeks, resulted in well over $1 billion in liquidations from over-leveraged traders.

The most likely reason for the spectacular Wednesday run came after the US Treasury announced increased liquidity-support buybacks for government bonds, impacting the broader financial market.

Tags:

CFTC Donald Trump Hyperliquid (HYPE) United States

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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