Hyperliquid targets $60 breakout as policy center urges SEC to allow pre-IPO markets

Key takeaways

• HYPE trades below $59 after recording a second consecutive day of gains.
• The Hyperliquid Policy Center and trade[XYZ] have submitted recommendations on pre-IPO perpetual markets to the SEC.
• The proposed instruments would provide price exposure before a company lists publicly without granting shares or investor rights.

Hyperliquid (HYPE) trades above $58 on Wednesday, extending its recovery for a second consecutive session as buyers target a breakout above the psychological $60 level.

The decentralized exchange's native token maintains a broadly bullish technical structure above its major moving averages. Momentum indicators are also improving without suggesting that the rally has become excessively stretched.

The advance comes as the Hyperliquid Policy Center and trade[XYZ] urge the US Securities and Exchange Commission to establish rules that would allow American investors to access pre-IPO perpetual markets.

Hyperliquid submits pre-IPO market proposal to SEC

The Hyperliquid Policy Center and trade[XYZ], a prominent deployer of perpetual markets on Hyperliquid, jointly submitted a comment letter responding to the SEC's request for proposals to modernize the Initial Public Offering process.

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