Hyperliquid is reportedly lobbying U.S. regulators to open a pathway for regulated firms to offer perpetual futures on its blockchain, according to a report by The Information on Wednesday.

The news comes as market commentators point to improving fundamentals and institutional accumulation around the HYPE token.

Will HYPE Grab the Perps Market?

Hyperliquid is engaging with the CFTC and SEC to allow U.S.-regulated companies to offer perpetual futures that trade and settle on its public blockchain, The Information reported.

The decentralized trading platform currently restricts U.S. users from accessing its services but is reportedly seeking no-action letters or new regulatory guidance that could allow its infrastructure to play a larger role in regulated U.S. markets.

The push comes as Hyperliquid’s underlying business continues to gain traction. The platform reportedly generated more than $900 million in profit last year.

In late July, VanEck’s Matthew Sigel highlighted Hyperliquid as an early leader and an example of crypto-native infrastructure expanding beyond digital assets.

He predicts HYPE to generate $800 million in annualized revenue.

Traders Debate if HYPE Is a Buy

Crypto trader Michael van de Poppe highlighted HYPE as an asset worth watching during market weakness, arguing investors should focus on buying dips in assets that are gaining traction and have a strong narrative.

"HYPE has been one of those assets for almost a year," he said.

Arkham Intelligence data points to continued demand from Bitwise clients.

Bitwise-linked ETF clients have purchased more than $5 million worth of HYPE over the past week. The wallets tracked by Arkham have not sold any HYPE since last month and have only accumulated the token during August.

Trader Crypto McKenna sees an improving technical setup, noting that HYPE appears to be establishing a higher low following a deviation below its range low.

He also highlighted the upcoming AQAv2 launch at the end of August and increased fee flexibility for HIP-3 deployers as potential fundamental catalysts.

Altcoin Sherpa is also looking for accumulation opportunities but would prefer a deeper correction. He hopes to build a larger spot position if HYPE falls into the $40s. Currently, the setup does not offer attractive trading opportunities.

He added that the token does not currently offer an especially attractive active trading setup.

Price Action: Hyperliquid Strategies Inc (NASDAQ:PURR) is up 1.5% on the day, the 21shares Hyperliquid ETF (NASDAQ:THYP) is up 2.5%.

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