What happened?
On October 8 MetaMask launched “MetaMask Perps,” a new in-wallet perpetual futures feature powered by Hyperliquid that lets millions trade perps directly in the MetaMask mobile app. After the announcement HYPE jumped about 3.3% to roughly $46.6 as Hyperliquid showed massive daily open interest and record trading volumes, and S&P added HYPE to its new Digital Markets 50 index. The project has also been doing $3–5 million daily buybacks and large purchases by the Assistance Fund and DATS have been flagged as potential demand drivers.
Who does this affect?
Everyday MetaMask users now have easy access to perpetual trading, so retail traders can start using perps without leaving their wallet. HYPE token holders, institutional investors and large whales stand to benefit if that new liquidity turns into buying pressure, and firms like Ark Invest have already shown interest in HYPE-related products. Competing DEXs and token projects (like Best Wallet and other perp platforms) are also affected since they’ll face more direct competition for users and liquidity.
Why does this matter?
The integration can funnel a lot more liquidity and trading volume into Hyperliquid and the HYPE token by exposing perps to MetaMask’s huge user base. That inflow, combined with S&P inclusion and ongoing buybacks, could push HYPE toward near-term resistance around $56–$60 and, if institutional DATS and Assistance Fund buying materializes, fuel a run toward $100. Overall it increases the chance of a market re-rating for HYPE, raises sector concentration and volatility, and forces competitors to step up their offerings.