- ICE CEO Jeff Sprecher stunned attendees at the Bernstein Conference by declaring that the 11-person Hyperliquid platform is “bigger than NASDAQ.”
- The HYPE token surged nearly 10%, trading around $62 and sitting just 4.5% away from its recent all-time high of over $64.
- Spot Hyperliquid ETFs from Bitwise and 21Shares have attracted a combined $100 million in net inflows, data on SoSoValue shows.
- Sprecher suggested the exchange’s SpaceX perpetual futures market could rival the scale of the upcoming SpaceX IPO itself.
During a speech at the Bernstein Conference, Intercontinental Exchange (ICE) CEO Jeff Sprecher made a bold proclamation about the decentralized exchange Hyperliquid. “This Hyperliquid that we’re talking – if you haven’t heard about it, it’s bigger than NASDAQ, okay? It’s 11 people,” he stated, praising the team as very smart people.
The HYPE token subsequently gained nearly 10% in 24 hours, approaching $62. This performance starkly contrasted with flat trading for Bitcoin and broader crypto ETF outflows, according to reports.
Momentum has been fueled by two new spot Hyperliquid ETFs, which have recorded $100 million in cumulative net inflows since launch. This positive flow stands against a backdrop of extended redemptions for both spot Bitcoin and Ethereum ETFs.
Consequently, HYPE’s price is attempting to breach its record high of over $64 set last week. Retail sentiment on platforms like Stocktwits has remained extremely bullish, accompanied by high levels of discussion.
Meanwhile, Sprecher highlighted the potential of Hyperliquid’s SpaceX perpetual futures market. He argued this speculative market could ultimately become larger than the highly anticipated SpaceX IPO itself, which is scheduled for June 8.
Hyperliquid Strategies Inc. (PURR), a digital asset treasury holding HYPE, also saw its stock edge higher in pre-market trading. The token itself has rallied over 50% in the past month, demonstrating significant investor interest.
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