HYPE, the native token of the Hyperliquid decentralized perpetual exchange, jumped 22.53% in the last 24 hours, reaching a daily high of $72.58. CoinGecko data indicated HYPE was trading at $71.46, with 24-hour volume surpassing $1.55 billion.
Coinbase integrates Hyperliquid perpetual futures
Coinbase, a leading cryptocurrency exchange based in the United States, has integrated Hyperliquid perpetual futures into its Base App. This update enables eligible users to access more than 290 perpetual trading markets, spanning assets such as Bitcoin, Ethereum, equities, and certain commodities.
Hyperliquid, known for providing decentralized perpetual trading, manages the execution for these markets and supports leverage up to 50x. Coinbase stated that perpetual futures account for approximately 75% of global crypto trading volume, describing perpetual products as highly requested by Base App customers.
Perpetual trading is one of the most requested features among Base App users, and now, more than 290 perpetual markets are available through Hyperliquid integration.
Despite the expansion, Coinbase will not offer Hyperliquid perpetual futures in restricted jurisdictions, including the United States, United Kingdom, and Canada. Current regulations in these countries limit access to leveraged crypto derivatives.
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AAPLCoinbase has signaled a broader product shift with the Base App, moving beyond its social and creator focus into a wider mix of trading features, payments, and artificial intelligence tools.
Mini dictionary: Hyperliquid, a decentralized exchange specializing in perpetual crypto futures, allows users to trade with significant leverage and offers a broad set of asset markets through a permissionless platform.
Regulatory attention and trading momentum
Market sentiment was further supported by comments linked to President Donald Trump, referencing efforts by the Commodity Futures Trading Commission (CFTC) to explore compliant access to Hyperliquid products in the US. Social media accounts speculated that these remarks contributed to increased HYPE demand during the surge.
Rising interest also coincided with Hyperliquid’s ongoing token burns, which are conducted using a share of protocol revenue. The $72.50 to $73.20 range came under focus as HYPE notched new near-term highs.
Crypto Patel, an independent analyst, compared HYPE’s current trading structure with previous rallies. By analyzing indicators such as Fibonacci retracement levels, order blocks, and fair value gaps, Patel emphasized the importance of the $70 to $74 price zone for potential short-term price reversals.
If HYPE closes the week above $77, that would invalidate the near-term reversal setup and potentially signal further bullish momentum.
Patel also noted an accumulation area from $41 to $32 below present prices, citing past liquidity reactions. Meanwhile, data from Lookonchain highlighted continued volatility around leveraged HYPE trades. The analytics service tracked losses over $60 million by trader loracle.hl, who saw a $46 million short position loss in June, followed by further declines amid active long and short swings in subsequent trading sessions.
| Key Levels | Implication |
|---|---|
| $70 to $74 | Identified as short-term reversal zone |
| $77 | Weekly close above invalidates short setup |
| $41 to $32 | Accumulation area below market |
