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

Key takeaways

• Hyperliquid’s HYPE token has gained 274% year-to-date, making it one of the strongest-performing large cryptocurrencies.
• CFTC Chairman Michael Selig said US regulators are preparing for tokenization, onchain finance, and continuous markets.
• Hyperliquid’s HIP-3 markets processed as much as $115 billion in monthly volume in June.

Hyperliquid (HYPE) has climbed 274% since the beginning of the year, outperforming other leading cryptocurrencies as demand for decentralized derivatives and tokenized real-world assets continues to grow.

The HYPE token recently approached the psychological $100 threshold, supported by expanding activity across Hyperliquid’s HIP-3 markets. Those markets allow builders to deploy permissionless perpetual futures, including contracts linked to real-world assets.

Comments from Commodity Futures Trading Commission Chairman Michael Selig have also strengthened expectations that tokenization and round-the-clock markets will become a larger part of the US financial system. 

However, his remarks...