HYPE Price Gets $120 Target as Kraken Parent Firm Plans US Hyperliquid Markets

• HYPE price traded around $77 as Payward advanced plans for US perpetual futures markets on Hyperliquid
• The proposed markets still need regulatory approval, while Hyperliquid tests its new HIP-3 features
• Analyst Michaël van de Poppe sees a possible move to $110–$120, provided Bitcoin finds a bottom and HYPE holds support

Hyperliquid is preparing for a possible opening into the US derivatives market, and Kraken’s parent company wants to be involved. Payward plans to use the network’s infrastructure for perpetual futures. But the proposal still needs regulatory approval. Meanwhile, the HYPE price has climbed back above $75 after a difficult stretch. One analyst sees room for a much bigger move, but his forecast has little to do with new markets.

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Kraken Parent Moves Closer to US Markets on Hyperliquid

Payward first announced its plans in September, saying it intended to offer US clients on-chain perpetual futures using Hyperliquid. The latest update adds detail on how those markets could operate.

Hyperliquid is testing an addition known as HIP-3, which would let market operators use on-chain allowlists to control access. The feature is optional, and existing HIP-3 markets would continue to operate as before.

Under the proposal, Payward’s CFTC-regulated Bitnomial businesses would create and administer the markets, as well as clear and settle contracts. According to Payward, NinjaTrader Clearing would carry customer accounts. The arrangement still requires regulatory approval. HIP-3 is also on testnet, meaning its specifications could change before any live launch.

The potential opening comes as trading activity on Hyperliquid remains substantial. DefiLlama showed approximately $52.18 billion in perpetual futures volume over seven days. But that figure will change as new trading activity comes in.

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HYPE Price Prediction Depends on Bitcoin

According to latest data, HYPE was trading around $77.94 at press time, after dipping close to $75 over the previous 24 hours.

Analyst Michaël van de Poppe sees a possible repeat of a pattern from August, when HYPE dipped below an earlier low before recovering. He says a similar move below $75 in October could set up a push toward $110 to $120 over the coming months.

There’s a catch. The analyst’s HYPE price prediction depends on Bitcoin finding a bottom and HYPE holding the area. If that setup fails, the analyst says he would look for long positions below $68, with $60 as another potential entry.

What a Move to $120 Could Mean for HYPE Investors

Using the MarketCapOf profit calculator, a hypothetical $1,000 purchase at $77.94 would buy HYPE. At a sell price of $120, those tokens would be worth $1,539, producing a $539.65 profit, or 53.96%. This is before fees and taxes.

While Payward’s plans could bring more attention to Hyperliquid, the proposed US markets still need approval. Van de Poppe’s target remains a forecast, not a guarantee.

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