HYPE Token Soars on SpaceX Frenzy and CFTC-Compliant Futures

HYPE token saw significant gains of over 7% in the past 24 hours, reaching a price range between $60 and $61. This surge is attributed to increased trading activity surrounding the SpaceX public offering.

The introduction of CFTC-regulated perpetual futures for HYPE on June 12, 2026, by Kalshi expanded access for American traders, further contributing to the token's rally. Bitcoin remained relatively stable during this period, while Ethereum traded around $1,600.

Cryptocurrency analyst Altcoin Sherpa disclosed a long position in HYPE ahead of SpaceX's market debut, predicting that the event would generate 'a ton of volume' and draw attention to Hyperliquid's trading ecosystem.