Key Highlights
- Kalshi received US CFTC authorization to offer HYPE perpetual futures contracts, featuring zero fees for an introductory period.
- HYPE token value increased more than 10%, climbing to $59.40 after the regulatory approval announcement.
- Open interest in HYPE futures contracts rose 11% to reach $2.49 billion, surpassing XRP futures activity.
- Wednesday saw spot ETF capital inflows totaling $2.78 million, marking the week’s second consecutive positive flow day.
- The exchange plans to roll out perpetual futures for additional cryptocurrencies including DOGE, XLM, SHIB, HBAR, and others soon.
On Thursday, Kalshi, a regulated US-based prediction market platform, revealed that perpetual futures contracts for Hyperliquid (HYPE) have gone live for trading. The deployment followed official clearance from the United States Commodity Futures Trading Commission (CFTC).
US-based traders can now access the HYPE perpetual contracts, which have no expiration timeframe. The platform is offering commission-free trading for an initial promotional window, with immediate access available without any waitlist requirements.
This product launch represents another expansion of Kalshi’s “American Perpetuals” suite, which delivers CFTC-supervised perpetual futures instruments within US jurisdiction. The program recently introduced Solana and XRP perpetual contracts, with HYPE joining as the newest offering.
Regulatory review by the CFTC involves individual assessment of each contract type before authorization is granted. The HYPE approval announced today followed this established regulatory pathway.
A strategic relationship already exists between Kalshi and Hyperliquid. The platforms previously worked together on the HIP-4 infrastructure enhancement and continue to move into complementary market segments.
HYPE Token Value Increases More Than 10%
Following Kalshi’s public announcement, HYPE token value climbed over 10%, reaching an intraday peak of $59.45. At publication time, the digital asset was changing hands around $59.40, marking a substantial gain from its earlier low of $52.70.
Open interest across HYPE futures markets expanded by 11% over the past 24 hours, reaching $2.49 billion. This growth positioned HYPE above XRP in terms of aggregate futures open interest for the day. Trading volume is increasing notably on major platforms including Binance, OKX, and Bybit.
CoinGlass data indicates HYPE funding rates are registering at a positive 0.006%. When funding rates show positive values, it indicates long position holders are compensating short position traders, typically interpreted as bullish market sentiment. The ratio of long positions to short positions currently stands at 1.09, approaching the month’s peak levels.
Capital Flows and Chart Analysis
SoSoValue data reveals that HYPE spot exchange-traded funds attracted $2.78 million in capital on Wednesday, representing the week’s second day of positive inflows.
Examining the technical picture, HYPE maintains support above its 50-day exponential moving average (EMA) positioned at $53.47. The Relative Strength Index registers near 46 on the daily timeframe, while the MACD indicator continues showing negative readings, pointing to an ongoing consolidation phase.
The primary resistance zone appears at the 50% Fibonacci retracement point of $57.41. A sustained breakout above this threshold could pave the way toward $65.07, with further upside potential extending to $74.54.
Analysis from CryptoQuant reveals certain overheating indicators within both spot and derivatives markets, though several other metrics continue displaying neutral readings.
Kalshi has announced intentions to introduce perpetual futures contracts for additional digital assets including DOGE, XLM, SHIB, HBAR, SUI, LTC, BCH, LINK, and DOT within the upcoming days.
