The ICE and trade[XYZ] announcement is a plausible catalyst for the rise. The move also included a sharp spike followed by a pullback from the high.
May have started the moveLikely
ICE and trade[XYZ] announced plans to use Hyperliquid infrastructure for US perpetual-futures markets, subject to regulatory approval, on Oct 29, 15:34 UTC. The announcement could have improved expectations for Hyperliquid’s reach and helped trigger the rise.
The move’s onset is unknown, and the plans remain subject to regulatory approval; timing alone does not establish causation.
May have added to the movePossible
On OKX, buyer-initiated trading’s share was higher over Oct 29, 00:00–Oct 30, 00:00 UTC than in the preceding 24 hours; open interest also increased. These conditions may have amplified upward momentum, but do not identify who traded or establish net buying.
Intercontinental Exchange, owner of the New York Stock Exchange, signed a definitive agreement with Trade[XYZ] to launch regulated perpetual futures built on Hyperliquid in the United States, Decrypt reported, making ICE the exclusive…
Stanley Druckenmiller disclosed an investment in Trade[XYZ], a platform teaming up with the NYSE's parent company, in his first post on X, CoinDesk reported.