Hyperliquid’s native HYPE token traded at approximately $95.77 as the on-chain derivatives platform’s fully diluted valuation surpassed Nasdaq and London Stock Exchange Group. The crossover, confirmed by Solid Intel, highlights the rapid growth of decentralized derivatives infrastructure relative to established securities-exchange operators. Hyperliquid’s HYPE token previously had a reported fully diluted valuation of about $91.1 billion. Fully diluted valuation measures the implied value of a token’s maximum supply, including tokens not yet circulating. Prediction-market pricing has also reflected stronger expectations for HYPE: the probability of the token reaching $100 by December 31, 2026, rose to 83.5% from 80% a day earlier and 49% a week earlier. Market participants will continue to monitor HYPE pricing, Hyperliquid’s trading activity, regulatory developments and changes in the $100 prediction market.