Hyperliquid, di crypto trading platform, don enta one major partnership wey go allow regulated perpetual futures market for di United States, as Intercontinental Exchange (ICE), di company wey own New York Stock Exchange, agree to back di project through Trade.xyz wey dey linked to Hyperliquid. Di announcement push di HYPE token price up well well, and e make di matter enta public discussion for Nigeria as crypto followers dey follow how di token dey move.
According to Coinpedia, HYPE price rally pass 8% on October 29 after ICE announce di plan. CoinMarketCap report say di token gain 3.6% for two hours as di news land, and e breakout pass $90 once di arrangement become public. Reports wey link di price move to di news note say di intraday gains bin strong.
Under di plan, ICE go operate Trade.xyz markets for di U.S., create one separate exchange and clearing system, and offer perpetuals on different assets. Di setup go carry KYC and AML controls, and e still dey wait approval from di Commodity Futures Trading Commission, CFTC. ICE also go hold equity stake for di arrangement.
Apart from di partnership, Hyperliquid fundamentals still dey support di bullish mood. Di platform don generate pass $1.38 billion for lifetime protocol revenue, and dem dey route big part of trading fees into one Assistance Fund smart contract wey dey burn HYPE through open-market buybacks. As at late October, about 49.87 million HYPE, nearly 5% of di maximum 1 billion supply, don remove permanently, with market value around $3.89 billion.
One valuation analysis wey CoinMarketCap reference put HYPE “base case” at $128 per token by 2029, based on assumptions about Hyperliquid non-crypto market share, fee rates, and how trading volume go expand.
Traders Union also report di ICE partnership and di token burn, and e raise di question whether HYPE fit continue to gain.
