Hyperliquid’s HYPE token reached $95.17 on September 21, 2026, gaining 4.7% in 24 hours and recording its third all-time high in one week, while monthly active perpetual traders reached approximately 291,500 to 291,900. HYPE rose 18.5% in seven days, outperforming Solana, Bitcoin, Ethereum and XRP, and the trader count surpassed June’s record of 258,123 by roughly 13%. Growth has been supported by HIP-3 perpetual markets linked to real-world assets such as oil and equities, 24/7 access, and a model that uses trading fees for HYPE buybacks and burns. Token Terminal measured roughly 470,000 to 480,000 monthly active addresses across the broader ecosystem. Payward, Kraken’s parent company, announced plans on September 16 to offer perpetual futures to U.S. customers, while Kalshi, Coinbase Derivatives and Bitnomial submitted proposals for U.S. equity perpetual futures that remained subject to regulatory approval.