- HYPE rises 38% in two weeks as ICE confirms negotiations with Hyperliquid.
- Hyperliquid’s daily trading volume has exceeded $1 billion.
- ICE CEO Jeff Sprecher said Hyperliquid “is bigger than Nasdaq.”
The price of Hyperliquid (HYPE) has continued its strong rally after new comments by Jeff Sprecher confirmed that the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), is negotiating with the Hyperliquid decentralized trading platform.
HYPE rose to $62.62 on Friday, recording a gain of 9.2% in the last 24 hours.
The token briefly traded up to $63.25 during the session and remains close to the all-time high of $64.44 reached earlier this week on May 26.
In particular, the latest move extends the rally that has raised HYPE 38.3% in the last 14 days and 55.1% in the last month.
Over the past year, the token has risen more than 80%, making it one of the strongest crypto-caps in the derivatives sector.
ICE CEO acknowledges Hyperliquid’s rapid growth
The meeting escalated after Sprecher spoke to Hyperliquid during the 42nd Bernstein Strategic Decisions Conference was held on May 27.
ICE’s Founder, Chairman and CEO acknowledged the rapid growth of the platform and said the company is rapidly learning the market.
“This hyperliquid we’re talking about – for those who haven’t heard, it’s already bigger than the Nasdaq,” Sprecher said at the meeting. “We are not afraid of this at all, but we are talking with them now and we are trying to get a better understanding of the place.”
This statement is one of the clearest signs that traditional exchanges are keeping an eye on the platforms being followed.
ICE and CME are increasing their focus on regional sources
Hyperliquid has been one of the fastest growing platforms in the last year, mainly due to its success in the perpetual futures market.
This platform has attracted traders who are looking for chain trading without relying on centralized exchanges.
Latest pictures from DefiLlama show the plan now has about $ 5.524 billion in total closed value, while daily sales have exceeded $ 1 billion.
Fixed income for its brand has also risen to nearly $60 billion as investor interest in commercial developments continues to grow.
At the same time, ICE and CME Group are said to have increased discussions with regulators regarding the supervision of derivatives platforms, including Hyperliquid.
Concerns center around unsustainable trade-related contracts, uncertain trade, and the possibility that fragmented offshore markets will affect traditional pricing patterns.
One area that is receiving attention is the products associated with Hyperliquid oil.
Investors say they are concerned that the increased liquidity in commodity contracts could disrupt previously ineffective pricing strategies.
Despite these concerns, ICE’s recent comments indicate that the company does not engage with Hyperliquid as mere competition.
Instead, the operator at ICE appears to be exploring how distributed trading tools can fit into broader financial markets as the blockchain-based economy continues to grow.
Earlier this week, CME Group also announced plans to launch future products linked to GPU pricing in partnership with Silicon Data.
CME CEO Terry Duffy described computing power as “the new fuel of the 21st century,” and highlighted how traditional exchanges are expanding beyond physical resources.
