Hyperliquid's planned US entry could bring its onchain infrastructure to regulated perpetual-futures markets through the biggest gate possible: ICE, the NYSE's parent. ICE and trade[XYZ] plan to use Hyperliquid's HIP-3* infrastructure for US traders across crypto, equities, commodities and FX, subject to regulatory approval. This is huge news for HYPE. x.com 

Hyperliquid is taking share as infrastructure underpinning financial markets, supporting a long view on HYPE. Stan Druckenmiller said trade(xyz) is partnering with ICE to bring 24/7 perpetual futures on Hyperliquid to the US; that is welcome progress. x.com 

ICE's planned US perps access could grow Hyperliquid's users, volume and revenue, but that growth may already be priced into HYPE. CFTC approval, a launch and actual US adoption are still needed; even then, extra fees and buybacks must beat expectations. ICE backing, Druckenmiller investing and Elon tweeting have made the story widespread. The easy HYPE trade looks over for average retail investors, though this call could be early. x.com  x.com 

A planned US-regulated perps market on Hyperliquid's rails would broaden HYPE's reach into traditional finance. Bloomberg reports that ICE and Trade.xyz plan a market with its own clearing and compliance systems for contracts linked to stocks, indices, commodities and currencies, pending regulatory approval. x.com 

Hyperliquid's institutional case strengthens because NYSE owner ICE plans a regulated perpetual-futures market on its network. ICE has also taken a stake in a linked project; institutional interest in HYPE is clear. x.com 

Hyperliquid's valuation looks stretched against what serious markets pay for exchanges, and perpetual futures have been, and always will be, a niche product with no real moat. x.com 

ICE's proposed Hyperliquid-based US perpetuals market could lift HYPE by driving more trading volume, fees and token buybacks. Per Cointelegraph, NYSE parent ICE plans the market; it still needs CFTC approval. x.com 

ICE's agreement with trade[XYZ] to build a US market on Hyperliquid advances HYPE's case as the base layer for global markets. The NYSE owner, which pressed regulators to rein in Hyperliquid in May, will now operate a dedicated US exchange and clearing setup on its rails and take a stake in trade[XYZ]. Stan Druckenmiller is backing trade[XYZ] and says he looks forward to using its product. x.com  x.com 

HYPE is selling off because its big buyer has run out of money. The ETF has used up its entire at-the-market offering and is no longer buying, which explains the price action. x.com  x.com 

ICE and trade[XYZ]'s planned 24/7 US perps venue could widen Hyperliquid's buyer pool. It needs CFTC approval; ICE is investing in trade[XYZ], and Druckenmiller is also joining. Per the FT, his spokesperson confirmed his post was authentic. Druckenmiller and Elon green-lighting HYPE signals TradFi allocators. Crypto natives remain underallocated due to short time horizons; HYPE is the first investable altcoin in history not reliant on belief in a monetary premium. x.com  x.com  x.com  x.com