TLDR
- Kraken parent Payward plans to be the first CFTC-regulated deployer on Hyperliquid’s HIP-3 markets.
- Bitnomial would run and clear the markets, while NinjaTrader Clearing would handle customer accounts.
- The plan is subject to regulatory approval, and the HIP-3 upgrade is still on testnet.
- HYPE fell to a local low of $74.5 and is testing its 100-day moving average at $75.61.
- A daily close below $75.17 would signal a bearish trend shift.
Hyperliquid (HYPE) is trading near a key support zone as news broke that Kraken’s parent company wants to build on its network. HYPE was up 0.63% in the past 24 hours, in line with Bitcoin and the wider altcoin market.
Payward, the parent company of Kraken, said it plans to be the first Commodity Futures Trading Commission (CFTC)-regulated deployer on Hyperliquid’s HIP-3 markets. Hyperliquid shared the news in a post on X.
The plan would use Hyperliquid as the infrastructure layer for perpetual futures aimed at U.S. clients. It remains subject to regulatory approval.
How the HIP-3 Plan Would Work
Bitnomial, Payward’s CFTC-regulated contract market and clearing organization, would act as the HIP-3 deployer. It would create, own, and administer the markets. It would also clear and settle contracts.
LATEST: ⚡ Kraken parent Payward plans to be the first CFTC-regulated deployer on Hyperliquid’s HIP-3* markets, using the network to launch perpetual futures for US clients pending regulatory approval. pic.twitter.com/4i1d66o4wS
— CoinMarketCap (@CoinMarketCap) October 27, 2026
NinjaTrader Clearing would carry customer accounts as a CFTC-registered futures commission merchant. That role is separate from Bitnomial’s market duties.
Payward first announced plans to explore regulated U.S. perpetual futures on September 16. The latest post lays out how the partners would divide the work.
The upgrade adds optional permissioned markets to HIP-3. An onchain allowlist would list the accounts allowed to access a deployer’s markets. Each deployer, or its sub-deployers, would manage that list.
Deployers would choose whether to turn on these controls. Existing HIP-3 markets would keep running under their current rules.
The new features are only on testnet. Hyperliquid said the specifications are preliminary and could change after testing feedback. U.S. customers cannot yet access the proposed contracts.
HYPE Price Tests Key Levels
HYPE has been in a correction for about five weeks. On the daily chart, the token dropped to a local low of $74.5 in recent days.
The 100-day moving average sits at $75.61. The anchor of the bullish structure is at $75.17. A daily close below either level would point to a trend shift, according to the analysis.
Selling pressure has not been heavy. The on-balance volume indicator remains close to its yearly highs, and trading volume has shrunk in recent weeks.
On the 4-hour chart, the structure is bearish. HYPE has traded below the 50 and 100-period moving averages for most of October. The $74-$76 area has held as a demand zone so far.
$HYPE is back at a level worth watching.
After more than a month of full correction.
It’s now sitting near the 20-week MA, which was already tested as support before and bounced.
I’m looking closely at this level. pic.twitter.com/qMyGMzpiYv
— BATMAN ⚡ (@CryptosBatman) October 27, 2026
Analyst BATMAN (@CryptosBatman) said HYPE is back at a level worth watching after more than a month of correction. He noted the price is near the 20-week moving average, which was tested as support before and bounced. He said he is looking closely at this level.
Hyperliquid says its existing permissionless HIP-3 markets will not be affected by the optional allowlist feature. As of October 28, the proposed contracts still await regulatory clearance.
