Hyperliquid (HYPE) targets $115 as tokenized asset trading gains momentum

Key takeaways

• Hyperliquid’s HYPE token has surged 274% year-to-date, cementing its status as one of the top-performing large cryptocurrencies.
• According to CFTC Chairman Michael Selig, US regulators are getting ready for continuous markets, onchain finance, and tokenization.
• In June, monthly volume across Hyperliquid’s HIP-3 markets reached as high as $115 billion.

Since the start of the year, Hyperliquid (HYPE) has jumped 274%, outpacing other major cryptocurrencies as interest in tokenized real-world assets and decentralized derivatives climbs.

Driven by increasing activity across Hyperliquid’s HIP-3 markets, the HYPE token recently neared the milestone $100 mark. These markets enable builders to launch permissionless perpetual futures, which include contracts tied to real-world assets.

Expectations that round-the-clock markets and tokenization will become a bigger piece of the US financial system have also been boosted by statements from Commodity Futures Trading Commission Chairman Michael Selig.

However, his remarks did not constitute official regulatory approval for Hyperliquid nor confirm that the protocol will be permitted to service US users.

US regulators prepare for tokenized markets

During the 2026 Treasury Market Conference, Selig talked about the potential effects of tokenization.

He noted that the CFTC is preparing financial markets for 24/7 trading, onchain finance, and large-scale tokenization, drawing a parallel between this evolution and the shift from floor-based trading signals to electronic markets.

“Just as the transition from hand signals to electronic trading advanced our financial system, I believe tokenization can do the same for all asset classes,” Selig stated.

He added that the agency remains dedicated to crafting clear, principles-based regulations designed to foster innovation while safeguarding market integrity.

These comments highlight a rising focus on blockchain-based markets among US regulators. Recently, the Securities and Exchange Commission launched a temporary Innovation Exemption permitting eligible platforms to test specific tokenized security products under controlled criteria.

Tokenization turns ownership rights of assets like commodities, bonds, or stocks into digital tokens on a blockchain. Proponents maintain that this technology offers fractional ownership, faster settlement, and continuous trading.

While regulatory backing for tokenization may open doors for platforms dealing in real-world asset markets, broad endorsements of the technology do not guarantee market entry for any particular decentralized protocol.

Before offering direct regulated services within the United States, Hyperliquid must fulfill all relevant derivatives, customer-protection, and securities requirements.

HIP-3 volume reaches $115 Billion

HIP-3 has emerged as a key growth driver for the Hyperliquid ecosystem. Data from Hyperliquid Analytics shows that HIP-3 markets hit a recent monthly peak volume of roughly $115 billion in June, with open interest climbing further to nearly $4 billion last month.

Open interest tracks the total value of active derivatives contracts that remain unsettled. Its growth indicates that traders are holding onto exposure within HIP-3 markets rather than just creating temporary transaction volume.

This mix of rising open interest and high volume points to deeper market participation, which could simultaneously generate extra demand for HYPE due to the token’s core function inside the wider Hyperliquid ecosystem.

Hyperliquid commands an 18% share of the decentralized trading sector, according to CoinMarketCap figures cited in the initial analysis, placing it among the biggest venues vying for growth in onchain derivatives.

By introducing real-world asset perpetuals, the platform has expanded past standard cryptocurrency markets, allowing traders to gain price exposure without directly holding traditional assets.

Although these products improve accessibility, they also introduce risks. Perpetual contracts involve leverage, do not automatically grant ownership rights, and rely on external price feeds to accurately follow the underlying asset.

Can HYPE reach $115?

HYPE recently traded close to the significant $100 price target, bringing a major psychological resistance level into play.

Because traders frequently set sell orders around major round numbers, psychological thresholds often trigger profit-taking, meaning HYPE could face a temporary correction after testing or briefly passing $100.

Should a pullback occur, the previous resistance zone near $88 may act as the initial primary support level. A successful retest would demonstrate that buyers are still active at elevated prices, setting the stage for another upward push.

Analysts estimate the medium-term upside target at roughly $115, a projection calculated by measuring the length of the previous rally to forecast the potential scale of the upcoming bullish wave.

Advancing from $100 to $115 would mark an extra 15% gain. Achieving this milestone requires the token to push through profit-taking and sustain buying interest as its year-to-date gains near 300%.

A drop below $88 would weaken the immediate bullish outlook and could send the market into an extended consolidation phase. Furthermore, soaring open interest creates liquidation hazards if heavily leveraged traders crowd heavily into long positions.

At present, the broader momentum behind tokenized markets, alongside growing open interest and expanding HIP-3 volume, continues to reinforce a bullish outlook. The primary short-term test is whether HYPE can flip the $100 level from resistance to support and push forward toward $115.

Frequently Asked Questions

What is driving Hyperliquid’s HYPE token performance?

HYPE has climbed 274% year-to-date, fueled by rising demand for decentralized derivatives, tokenized real-world assets, and growing activity across Hyperliquid’s HIP-3 markets.

What are HIP-3 markets on Hyperliquid?

HIP-3 markets allow builders to deploy permissionless perpetual futures, including contracts linked to real-world assets. These markets processed a monthly peak of approximately $115 billion in trading volume in June.

What did CFTC Chairman Michael Selig say about tokenization?

During the 2026 Treasury Market Conference, Selig stated that the CFTC is preparing financial markets for 24/7 trading, onchain finance, and large-scale tokenization, comparing the shift to the historical transition from hand signals to electronic trading.

Does regulatory support mean Hyperliquid is approved for US users?

No. General statements from officials supporting tokenization technology do not grant market access or regulatory approval for specific protocols. Hyperliquid would still need to meet all applicable derivatives, securities, and customer-protection rules to serve US customers directly.

What is the next price target for HYPE?

The medium-term upside target is approximately $115, representing a 15% increase from the psychological $100 resistance threshold, though the token must first successfully handle potential profit-taking and hold key support near $88.