Hyperliquid Recent Positive Developments Summary: Kraken Partnership Continues to Catalyze Token Price, HYPE Breaks Through $94 to Hit a New All-Time High

BlockBeats news, September 19, according to HTX market data, HYPE surged past $94, currently quoted at $94.43, hitting a new all-time high, with a 24-hour gain of 9.1%, and its market cap rising to $20.996 billion. Recent positive developments for Hyperliquid are summarized as follows:

· Payward (Kraken's parent company) announced plans to offer on-chain perpetual contracts based on Hyperliquid to U.S. clients, with Bitnomial (a CFTC-regulated exchange and clearinghouse under Payward) acting as the HIP-3 deployer responsible for creating, owning, managing the market, and clearing and settling; NinjaTrader Clearing serves as the registered Futures Commission Merchant (FCM) hosting client accounts.

· The U.S. SEC announced an "Innovation Exemption," granting a conditional five-year exemption to certain tokenized stock trading platforms, benefiting Hyperliquid's expansion in the tokenized equity/RWA sector.

· HIP-3 markets accounted for nearly 50% of the platform's perpetual trading volume in summer 2026, up from about 2% at the beginning of the year. TradeXYZ's stock market (including Nasdaq 100 and individual stocks) dominates. During the same period, total market RWA perpetual trading volume rose from about $85 billion/month in January to about $470 billion/month in June.

· Hyperliquid's perpetual contract trading volume over the past 30 days was approximately $240 billion (second place Arbitrum at about $47.2 billion, Solana at about $46 billion), leading the public chain/ecosystem rankings; during the same period, it accounted for about 36% of Perp DEXs, with cumulative perpetual trading volume exceeding $5.3 trillion.

· Hyperliquid recently launched the Manual Borrows feature. Users can use HYPE or BTC as collateral to borrow USDC/USDT.