HYPE Targets $120 as NYSE Owner Moves to Bring Hyperliquid Perpetual Futures to Regulated U.S. Markets

Michael van de Poppe believes HYPE is ready to pump harder after the NYSE owner moves to bring Hyperliquid perpetual contracts to U.S. regulated markets. In an announcement today, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is preparing to introduce Hyperliquid perpetual contracts to the regulated American market.

ICE to offer on-chain perpetual futures to US clients

Today, HYPE has been the biggest mover in the crypto market. The trigger behind Hyperliquid’s spike is ICE’s plan to roll out a US-regulated on-chain perpetual futures avenue built on Hyperliquid infrastructure. According to the announcement, the NYSE owner has sealed a strategic partnership with Trade.xyz to establish round-the-clock, Hyperliquid-based perpetual futures trading in the US.

Trade.xyz and Hyperliquid already have a structured working relationship, with trading still awaiting regulatory authorization.

Based on the announcement, Hyperliquid will offer underlying infrastructure to bring regulated on-chain perpetual futures to US customers. Trade.xyz, a trading platform built on Hyperliquid, will create a regulated market and clearing structure for perpetual futures contracts in the US, pending regulatory approvals. Meanwhile, ICE will serve as a specialized administrator for Trade.xyz’s regulated markets and deploy strategic investment into the firm.

The collaboration seeks to bring Trade.xyz’s perpetual markets, currently operating on Hyperliquid, into a U.S. regulated framework. Once approved, U.S. customers are expected to access compliant on-chain perpetual futures markets on Hyperliquid’s HIP-3 framework.

Analyst says HYPE ready for a stronger move

Crypto analyst Michael van de Poppe expects HYPE to reach $110-120 soon, citing ongoing preparations to bring Hyperliquid-based perpetual futures to US clients. After the announcement, Hyperliquid’s HYPE token surged over 20% today and is currently trading at $96.30. The asset reached an ATH of $97.96 last month.

The analyst flagged an imminent bullish formation for HYPE, hinging on NYSE owner’s move to bring Hyperliquid perpetual futures to regulated U.S. markets. If it launches successfully, Van de Poppe believes the new offerings will further boost Hyperliquid adoption, pushing its value toward the $110-$120 level.