Update
HYPE Surges on ICE's US-Regulated Futures Market
HYPE, a token for the decentralized exchange Hyperliquid, rose to $90.81 on October 29, up about 14% from its previous day's close. The price increase followed Intercontinental Exchange (ICE) announcing plans to launch a US-regulated version of Hyperliquid's stock and commodity markets. Hyperliquid's trading volume over 24 hours was about $4.89 billion, nearly double its Bitcoin futures volume of $2.55 billion. DCo, a research firm, values HYPE at $98 to $128 by 2029 if Hyperliquid captures 3% of global futures and stock trading and crypto volume triples, or at $66 if non-crypto trading fees fall to CME's level.