Hyperliquid, persönlich von Trump befürwortet, erhält durchgehend bullische Stimmung

Coincamps · 2026-08-20T09:48:44.000Z

HYPE ist in den vergangenen zwei Tagen von rund 58,5 US-Dollar auf 73,7 US-Dollar gestiegen – das entspricht einem Plus von 26 %. Es ist nun nur noch etwa 4 % von seinem Allzeithoch bei 77 US-Dollar entfernt. Während der Preis auf ein neues Hoch zusteuert, verzeichnet Hyperliquid zudem positive Entwicklungen. Pre-IPO-Vertrag tritt bei der SEC ein Der erste Nachrichtenblock kommt vom Hyperliquid Policy Center. Es hat sich mit trade[XYZ] zusammengeschlossen, um ein Comment Letter an die SEC einzureichen – als Reaktion auf die öffentliche Konsultation der Aufsichtsbehörde zur Reform des IPO-Prozesses. Dabei wird vorgeschlagen, vorbörsliche Perpetual Contracts in die regulatorische Diskussion aufzunehmen.

HYPE has surged from around $58.5 to $73.7 in the past two days, marking a 26% increase. It is now only about 4% away from its all-time high of $77.
As the price approaches a new high, Hyperliquid is also seeing positive developments.
pre-IPO Contract Enters SEC
The first piece of news comes from the Hyperliquid Policy Center. It has partnered with trade[XYZ] to submit a comment letter to the SEC in response to the regulatory body's public consultation on reforming the IPO process, proposing to include pre-listing perpetual contracts in the regulatory discussion.
The starting point of this comment letter is the traditional IPO pricing being trapped in a few underwriting institutions' bookbuilding inquiry and order allocation. According to HPC's materials, the number of listed companies on U.S. exchanges has decreased by about 40% since the mid-1990s. Companies stay in the private market longer, and retail investors often have to wait until the growth stage is nearing its end to have the opportunity to buy in. When companies are preparing for listing, underwriting banks privately collect orders, and the issuer and the public can only see the true market price after the stock opens for trading.
The final result often sees a significant disconnect between the offering price and the opening price. The issuer ends up with less money, and the institutions receiving allocations pocket the price difference.
The pre-IPO contract by Hyperliquid aims to introduce some early public trading. Traders can express both long and short views before the company goes public, and the order book continuously provides a public price. HPC and trade[XYZ] state that the contract's price near the listing is close to the stock's opening price and sometimes even more accurate than traditional media's pre-market indications.
The key move of this letter is to place Hyperliquid's pre-IPO contract within the IPO policy framework. HPC and trade[XYZ] hope that regulators will consider it as a public price discovery tool and establish rules around product categorization, derivative risk disclosure, listing eligibility, oracle and settlement transparency, deployer conflicts of interest, and staged opening to U.S. investors.
A contract product that originally only operated on the blockchain is now attempting to influence the stock issuance system.
Entropy & Traisa Join HIP-3
The second news story unfolds on the market supply side. Entropy has become a new HIP-3 deployer, planning to start in the Pre-IPO market before expanding into the stock market, with two contracts already live.
This eight-person team's background is almost entirely related to trading. Both co-founders dropped out of Stanford to start their entrepreneurial journey. The CEO was the first intern recruited by Polymarket, involved in designing the fee mechanism and liquidity incentive program, and later worked at Jump. Another co-founder previously worked on MEV on Solana before joining Ribbit Capital. Other team members come from Jane Street, Hudson River Trading, Jump, Radix, and Virtu.
These backgrounds align closely with the requirements of HIP-3. Deployers need to select assets, design contracts, maintain oracles, set leverage limits, and handle settlements. Entropy brings experience in prediction markets, on-chain trading, and traditional quant institutions, naturally raising market expectations.
The timing of Entropy's entry is also unique.
Early deployers of HIP-3 such as Felix, Dreamcash, Ventuals, have already exited. Early players tried to avoid trading [XYZ] by focusing on niche assets and first-mover advantage, only to find that listing new assets is far from sufficient. Without stable user distribution and liquidity, even the most unique trading pairs struggle to sustain.
Now, Paragon is rapidly rising. According to Loris Tools, Paragon has seen approximately $126 million in trading volume across 20 markets in the past 30 days, attracting over 3,400 traders. Also entering the scene almost at the same time as Entropy is Trasia, focusing on the Asian markets.
The competition for HIP-3 has entered its second phase.
Trump Mentions Hyperliquid Directly
The third piece of news comes from the White House. Trump mentioned at a cryptocurrency industry conference that the CFTC is working to bring Hyperliquid to the U.S. in a "fully compliant, lawful" manner.
For Hyperliquid, being directly mentioned by the President has shifted the discussion. Previously, it was challenging to fit a Perp DEX into the definition of traditional trading venues, and U.S. investors could not access related products. Now, the question has moved from "Will the U.S. handle Hyperliquid" to "How is the U.S. preparing to handle Hyperliquid."
This speech significantly alleviated the market's compliance concerns about Hyperliquid. The regulatory direction is shifting from excluding on-chain trading venues to seeking a legitimate entry for them.
A potential path is taking shape. Regulators are establishing a new market structure for on-chain trading venues to give them a legal identity distinct from the traditional designated contract market; U.S. brokers then distribute 24/7 perpetual contracts, spot, and prediction markets to more investors through HyperCore.
Druckenmiller Holds HYPE DAT
The fourth piece of news comes from institutional holdings. Stanley Druckenmiller's family office, Duquesne, revealed in its quarterly 13F filing an addition of approximately $23.2 million to its Hyperliquid Strategies / PURR position, a digital asset treasury company with HYPE as its core asset.
Druckenmiller wields significant weight in traditional financial markets. He founded Duquesne Capital in 1981, then went on to manage investments for Soros's Quantum Fund. Morgan Stanley's summary of his career record states that Duquesne achieved around a 30% annualized return from 1981 to 2010, with no losing years. Today, he manages his capital through Duquesne Family Office.
Druckenmiller's stature gives this transaction a more significant signaling effect. Hyperliquid has long been in the sights of traditional financial investors.
The market is reinterpreting Hyperliquid. The answer to decentralized finance is vying for the pricing power, distribution channels, and institutional position of the future financial market.