The New York Stock Exchange’s *ICE* and *Trade[XYZ]* announced they’ll seek a license from the *CFTC* to launch a regulated *Perpetual Futures* market in the U.S. for retail traders.
The shock: the technology they’ll use is *Hyperliquid* - the world’s largest decentralized perpetual futures exchange.
The result: *HYPE* shot up *+20% to $96* and came close to breaking its all-time high of $97.96
Trump said on August 19 that they were working to bring Hyperliquid to the US in a 100% legal way.
What might happen next?
*1. Short term (1-4 weeks):*
A correction is expected after the 20% rally; the market rule is “buy the rumor, sell the news.” We could see HYPE between 75$-105$, with high volatility.
*2. Medium term (3-6 months):*
Approval is not guaranteed. The CFTC will require a separate clearing structure to protect institutions from retail risk. If approved, this would be the first time in US history that crypto perpetual contracts are licensed for retail traders in a regulated way.
*3. Long term (1+ year):*
ICE is opening the door. If the model succeeds, every Wall Street exchange will copy it. This means an official integration of DeFi with TradFi.
Coins that will be affected by the news:
*Directly and strongly affected:*
- *HYPE* - the primary beneficiary, at the heart of the project
- *DYDX* - the second-largest decentralized derivatives exchange; people will buy it hoping for the same outcome
- *GMX* - same story, a derivatives exchange on Arbitrum
- *GNS / Gains Network* - perpetual contracts
- *ASTER* - a newly rising derivatives platform
*Indirectly affected - positively:*
- *BTC, ETH, SOL, AVAX* - because they will be the first assets traded on the proposed new market (crypto + stocks + commodities)
- *ARB* - most derivatives platforms are built on Arbitrum
- *LINK, PYTH* - the price oracles that power these platforms
*Those negatively affected:*
- *Centralized exchanges (CEXs) like Binance Futures* - some US traders who used to get around restrictions with a VPN will have a legal alternative
*Bottom line:* The news isn't just about HYPE; it's about *licensing an entire category called Perps in the US*. Any coin providing infrastructure for perpetual contracts will benefit.
A watchlist of these coins with their current prices
🔥 WATCHLIST - New York Stock Exchange x Hyperliquid news 🔥
📈 Category 1: Direct beneficiaries (Perp DEXs)
$HYPE - 95.36$ (+19.30% today) - at the heart of it all
ATH: 97.96$ - just 2.6$ away!
Market cap: 22.35B
$DYDX - 0.113$ (+2.54%)
The second-largest DEX - could take off if the HYPE model succeeds
$GMX - around 12.80$
Runs on Arbitrum - same sector
$GNS - 1.15$
Gains Network - perpetual contracts
$ASTER - 0.70$ (-5% today)
A 6-7% rebound tonight, a newly rising coin
📊 Category 2: Assets that will trade on the new market
$BTC - 80,021$ (-1.07%)
$ETH - 2,322$ (-0.98%)
$SOL - 100.28$ (-1.62%)
$AVAX - 8.78$
⛓️ Category 3: Infrastructure
$ARB - 0.28$ - most Perps platforms are built on it
$LINK - 11.56$ - price oracle
$PYTH - 0.11$ - competing oracle
⚠️ Cautions:
1. $HYPE has an unlock of 9.9M tokens on November 6 = potential selling pressure of ~765M$
2. $HYPE shorts were liquidated for 1.71M$ versus 90K$ in longs - shorts are getting burned
3. The whole market is down 2.5% - if BTC climbs back above 85K, everything will take off with HYPE
#HYPE #DYDX #GMX #BTC #Watchlist