Update
Hyperliquid (HYPE) Surges 20% Following Druckenmiller's Investment
The native token of the DeFi ecosystem Hyperliquid (HYPE) saw a significant daily gain of 20%, reaching a price of $95.49. The surge was triggered by Elon Musk's reaction to a tweet by Druckenmiller, who announced he had become an investor in the fintech startup trade[xyz]. Druckenmiller's investment comes with the project's agreement with Intercontinental Exchange (ICE), which plans to launch regulated round-the-clock trading of perpetual futures contracts in the U.S. The project's Zero-VC model, where more than 76% of the supply is distributed to the community, contributed to HYPE's capitalization exceeding $24.2 billion. Hyperliquid's market cap hit $24 billion following Druckenmiller's historic X post and a viral response from Musk.