Weekly Recap — Sunday, September 13, 2026

The Hyperliquid ecosystem experienced a volatile week, with its native token, $HYPE, seeing significant price fluctuations. The most consequential development was Trump's unexpected mention of "Hyperliquid" on national TV, sparking widespread discussion about its potential as a neutral liquidity layer for US exchanges and brokers. This led to increased focus on the Hyperliquid Policy Center's efforts to engage with regulators and position Hyperliquid as critical infrastructure for derivatives markets, aiming for the onshoring of perps. Despite price dips, the platform maintained robust trading volumes and open interest, underscoring its growing market presence.

• Trump's unexpected mention of "Hyperliquid" on national TV ignited discussions about its role as a neutral liquidity layer for US exchanges.
• The Hyperliquid Policy Center (HPC) is actively working to position Hyperliquid as critical infrastructure for derivatives markets and facilitate the onshoring of perps.
• Perpetual futures are already legal in the US, with the CFTC reclassifying true perpetuals as futures.
• The HPC is developing a compliant variant of HIP-3 to meet CFTC, SEC, and Treasury AML/KYC obligations.
• Hyperliquid maintained significant rolling perp notional volume, ranging from $349.0M to $633.0M throughout the week.
• Current Open Interest notional on Hyperliquid consistently remained high, between $1.7B and $2.0B.
• Over $1.13M of hyperliquid:native was burned in a 24-hour period.