Hyperliquid Reaches All-Time High Amid Bitcoin's Modest Gains

Hyperliquid (CRYPTO:HYPE) has achieved a new all-time high, trading at $94.46, following an impressive 18% increase from $78.48 just a week earlier. In contrast, Bitcoin (CRYPTO:BTC) saw a more modest rise of 5.11%, closing at $81,214, which still leaves it significantly below its all-time high of $126,198 recorded in October 2025. The divergence in performance between the two cryptocurrencies can be attributed to a specific announcement from Payward, the parent company of Kraken, regarding the launch of perpetual futures markets on Hyperliquid's blockchain for U.S. clients.

The announcement, made on September 16, 2026, revealed that Payward plans to create new markets on Hyperliquid's platform, leveraging permits acquired with Bitnomial, a CFTC-regulated exchange. This initiative is particularly significant as perpetual futures have been largely unavailable on regulated U.S. exchanges until now. The excitement surrounding this development has driven increased trader interest in Hyperliquid, especially given that only 26% of HYPE's maximum supply is currently in circulation, amplifying the impact of buying pressure on its price.

The requirement for Payward to stake 500,000 HYPE tokens—valued at approximately $46 million at the current price—before launching any contracts further fuels demand for the token. With over 6.6 million funded accounts at Payward and Hyperliquid recording over $200 billion in trading volume in the month leading up to the announcement, the potential for new trading activities on the platform appears robust. However, analysts caution that the same limited supply dynamics that have driven HYPE's price up could also lead to significant declines if buying pressure diminishes.

© 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: KLEA News