Hyperliquid's HYPE token rose about 20% Thursday after Intercontinental Exchange (ICE) announced plans for US perpetual futures with Trade[XYZ]. CoinGecko put HYPE above $96, near September's record of $97.96. The companies said the proposed retail market would cover cryptocurrencies, stocks, indexes, commodities and currencies, subject to regulatory approval. ICE plans a separate clearing structure to protect existing institutional customers from retail counterparty risks. ICE is also acquiring a minority stake in Trade[XYZ], but disclosed neither the investment amount nor a launch date.