Hyperliquid Jumps 11% on News of ICE Partnership
Summary
- News of a partnership with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, sent Hyperliquid (HYPE) up 11.25% from a day earlier.
- Bloomberg reported that ICE plans to launch a new perpetual futures product with Tradexyz, using Hyperliquid's blockchain infrastructure.
- The perpetual futures ICE plans to introduce will be tied to stocks, equity indexes, commodities and currency prices, while Hyperliquid and Tradexyz currently do not offer services to users in the US.
Forecast Trend Report by Period
Hyperliquid's HYPE token is surging on news of a partnership with Intercontinental Exchange, the parent company of the New York Stock Exchange.
According to CoinMarketCap on October 29, HYPE was trading at $89.56 as of 10:02 p.m., up 11.25% from a day earlier. That marks a 14.9% gain from a week ago.
The rally follows news of a partnership with ICE. Bloomberg reported on October 29 that ICE plans to work with Tradexyz, a provider of perpetual futures infrastructure in the Hyperliquid ecosystem, to launch a new perpetual futures product.
The perpetual futures product ICE plans to launch will use Hyperliquid's blockchain infrastructure. ICE intends to link the contracts to prices for stocks, equity indexes, commodities and currencies through Tradexyz.
At present, neither Hyperliquid nor Tradexyz offers services to users in the US. ICE selected Tradexyz as its partner to launch perpetual futures under the US regulatory framework.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul