Hyperliquid is in talks with Payward, Kraken's parent company, about entering the US market. HYPE traded near $81 on Aug. 31, with prediction markets pricing a 62.5 percent probability of reaching $100 by year-end.
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HYPE holds near $81 as Hyperliquid-Payward talks target US entry
HYPE traded near $81 on Aug. 31 after Bloomberg reported Hyperliquid is in talks with Payward, Kraken's parent, about US market entry.
Prediction markets tracked by Vera show a 62.5 percent probability that HYPE reaches $100 by the end of 2026, reflecting confidence in the regulatory path. The token traded between $81.26 and $81.63 on Aug. 31, slightly below its recent peak, as market participants weighed the potential for Hyperliquid to expand its addressable market under US regulatory standards.
A successful entry would mark a significant step for on-chain perpetual futures, a sector that has largely operated outside US jurisdiction. The partnership would give Hyperliquid access to Kraken's established compliance infrastructure while potentially bringing institutional capital to the protocol's platform.
US regulators have been working to facilitate Hyperliquid's compliant entry into the American market, according to the Bloomberg report. The development comes as the broader crypto market shows mixed signals — Bitcoin traded at $77,654 on Aug. 31, down from its October 2025 all-time high of $126,173, while prediction markets price growing optimism for altcoin performance.
The talks also carry competitive implications. If Hyperliquid secures US market access through Payward, it could set a precedent for other decentralized perp protocols seeking regulated entry, potentially reshaping the derivatives trading market. Kraken, one of the largest US-based crypto exchanges, would gain exposure to Hyperliquid's on-chain derivatives volume.
Hyperliquid has emerged as one of the most active venues for perpetual futures trading, with its order book model distinguishing it from competitors that rely on automated market makers. A US entry through Payward would align the protocol with American regulatory standards, a requirement for attracting institutional participation in the world's largest capital market.
The timing is notable given the broader regulatory environment. The Trump administration has pursued a more crypto-friendly stance, including the establishment of a Strategic Bitcoin Reserve and efforts to provide regulatory clarity for digital assets. These conditions have created a more favorable backdrop for protocols like Hyperliquid seeking compliant market access.
For the on-chain derivatives sector, a Hyperliquid US entry could accelerate the convergence of decentralized trading infrastructure with traditional exchange compliance frameworks. Other protocols operating in the perpetual futures space will likely monitor the outcome closely, as Payward's involvement could establish a template for how DeFi platforms navigate US securities and commodities regulations.
Market participants will watch for official announcements from Hyperliquid or Payward confirming the progress or outcome of their discussions. Any confirmation could significantly move HYPE's price trajectory, with the $100 target by year-end serving as a key benchmark.
This article is for informational purposes only and does not constitute investment advice.
[1] Hyperliquid surges after Bloomberg reports talks with Payward for US market entry[2] Hyperliquid in Talks With Kraken Parent on US Market Entry[3] Hyperliquid’s HYPE token rises on US market entry talks with Payward: Bloomberg[4] Bitcoin (BTC) Price Prediction 2026, 2027 – 2030[5] Binance coin price prediction 2026-2032: How high will BNB go?
