Trump Endorsement Boosts HYPE as Regulatory Process Advances
Hyperliquid (HYPE)
Editor:
Eugene Serbin
Crypto Economy reports that President Donald Trump’s August 19 statement regarding Hyperliquid’s US entry triggered a 14% price surge for HYPE to nearly $71. While Trump has made eight prior crypto endorsements that all currently trade below pre-endorsement levels with an average 60% drawdown, HYPE presents a potential anomaly. This distinction stems from a verifiable regulatory process already underway, including the CFTC’s May 2026 approval of perpetual futures and a July 2026 petition by Hyperliquid and Phantom for DeFi-tailored rules.
Hyperliquid operates a Layer 1 blockchain with HyperCore for derivatives and HyperEVM for EVM compatibility, supporting on-chain strategies like the Institutional Volatility Income Vault launched with Rysk. The HYPE token has a fixed supply of approximately 1 billion, with purchases by the Assistance Fund permanently burning tokens to reduce the total to roughly 956 million by April 2026. CFTC Chairman Michael Selig has proactively clarified rules for leveraged trading and perpetual derivatives, while establishing Project Crypto with the SEC to coordinate oversight.
Hyperliquid and Phantom argued in July that publishing software for DeFi should not require exchange registration, aiming to reduce regulatory uncertainty. Despite the pattern of initial spikes followed by negative reversals in previous endorsements, the institutional machinery now operating suggests a different trajectory for this specific asset.
How the market reacted
Whalio's own Binance spot order flow for HYPE, measured when this story was written up on 30 September 2026. Not the outlet's figures.
HYPE is currently trading at $86.09 on Binance spot markets, showing a buy ratio of 55.7% over the last hour and 55.8% over four hours. These short-term figures exceed the 24-hour buy ratio of 51.9%, indicating that buying pressure is building rather than fading. The Volume Delta reflects this sentiment with positive inflows of $655,753 in the last hour and $195,850 over four hours, contrasting with a 24-hour cumulative volume delta of -$257,080. A positive volume delta means that the volume of market orders executed at the ask price (buying) exceeded the volume executed at the bid price (selling) during that period. This net buying activity suggests that recent market participants are aggressively accumulating the asset at current prices.
Was that an ordinary day?
The same Binance spot measurements for HYPE, averaged over the days leading up to the story.
Over the preceding week, HYPE experienced a price decline of 6.6% with a five-day average buy ratio of 48.4%. Today’s 24-hour buy ratio of 51.9% is 3.5 percentage points higher than that weekly average, marking an unusual shift toward net buying compared to the recent trend. Additionally, today’s spot volume of $26,435,821 is 1.43 times the weekly average, indicating significantly heightened trading activity. While the six-day volume delta was negative at -$949,410, the current hourly and four-hour deltas are positive, suggesting a reversal of the prior week’s selling pressure. This day stands out as an ordinary day for volume but an unusual one for sentiment, given the deviation from the weekly average buy ratio.