Hyperliquid (HYPE) Price: Token Surges 10% as CFTC Greenlights Kalshi Perpetuals

TLDR

• Kalshi launched HYPE perpetual futures with US CFTC approval, with zero trading fees for a limited time.
• HYPE price jumped over 10%, reaching $59.40 following the announcement.
• HYPE futures open interest climbed 11% to $2.49 billion, overtaking XRP futures OI.
• Spot ETF inflows of $2.78 million were recorded on Wednesday, the second positive day this week.
• Kalshi plans to expand perpetual futures to DOGE, XLM, SHIB, HBAR, and other tokens next.

Kalshi, a US prediction market platform, announced on Thursday that Hyperliquid (HYPE) perpetual futures are now live for trading. The launch came after formal approval from the US Commodity Futures Trading Commission (CFTC).

The HYPE perpetuals are available to users in the United States and carry no expiration date. Kalshi also announced zero trading fees for a limited period following launch, with no waiting list required to start trading.

This listing is part of Kalshi’s broader “American Perpetuals” product line, which offers CFTC-regulated perpetual futures contracts in the US. Solana and XRP perpetuals launched under the same program recently, and HYPE is the latest addition.

The CFTC has been reviewing these contracts on a case-by-case basis before approving each listing. Today’s approval for HYPE follows that same process.

Kalshi and Hyperliquid have an existing partnership. The two platforms previously collaborated on a HIP-4 infrastructure upgrade, and they have been expanding into each other’s core business areas.

HYPE Price Jumps Over 10%

HYPE price rose more than 10% following the Kalshi announcement, hitting an intraday high of $59.45. The token was trading around $59.40 at the time of writing, up from a prior low of $52.70.

Futures open interest for HYPE climbed 11% to $2.49 billion in the last 24 hours. That pushed HYPE ahead of XRP in total futures open interest on the day. Activity is rising across Binance, OKX, and Bybit.

Funding rates for HYPE are positive at 0.006%, according to CoinGlass data. A positive funding rate means long traders are paying short traders, which is generally seen as a sign of bullish sentiment. The long-to-short ratio sits at 1.09, near its highest level of the month.

ETF Inflows and Technical Levels

HYPE spot ETFs recorded $2.78 million in inflows on Wednesday, the second positive flow day this week, per SoSoValue data.

On the price chart, HYPE is holding above its 50-day exponential moving average (EMA) at $53.47. The RSI sits near 46 on the daily chart, and the MACD remains in negative territory, suggesting the market is still in a corrective phase.

Resistance sits at the 50% Fibonacci retracement level of $57.41. A close above that level could open the way toward $65.07 and then $74.54.

CryptoQuant data shows some overheating signals in both spot and futures markets, while other metrics remain neutral.

Kalshi has indicated it plans to list perpetual futures for DOGE, XLM, SHIB, HBAR, SUI, LTC, BCH, LINK, and DOT in the coming days.

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