The Hyperliquid (HYPE) token surged more than 22% over a 24-hour period, reaching an intraday high near $72.58. CoinGecko data recorded HYPE trading around $71.46, with daily trading volume reaching $1.55 billion. The upward movement coincided with Coinbase integrating Hyperliquid perpetual futures into its Base App and remarks concerning potential U.S. regulatory access.
Coinbase Base App Integration
According to reports from Wu Blockchain, Coinbase added Hyperliquid perpetual futures trading to its Base App. Eligible users can access more than 290 perpetual markets, which include crypto assets, equities, and commodity-related products. Trade execution is handled by Hyperliquid, and the platform offers leverage of up to 50x.
Coinbase noted that perpetual futures account for approximately 75% of current cryptocurrency trading volume, making it a frequently requested feature for Base App users. However, the product is not available in the United States, the United Kingdom, Canada, and other restricted jurisdictions due to local regulations limiting leveraged crypto derivatives.
The integration reflects a shift in the Base App product strategy, expanding its focus toward trading, payments, and AI agent capabilities alongside its existing social and creator features.
Market Momentum and Analyst Levels
Additional momentum came from remarks attributed to President Trump concerning the CFTC working to bring Hyperliquid into the United States compliantly, alongside Hyperliquid's revenue-driven token burns.
Analyst Crypto Patel highlighted the $70 to $74 range as a key technical zone and short-term reversal area, while noting a weekly close above $77 as a major invalidation level for that setup. Meanwhile, data from Lookonchain highlighted broader market volatility surrounding leveraged positions, noting significant losses on recent long and short trades involving the token.
