HYPE Slips to $78 as Crypto Commentator Flags Regulation as Hyperliquid's Biggest Threat

Hyperliquid's native token extended its slide on Friday, dipping to $78.67 as a prominent crypto commentator warned that regulatory scrutiny, rather than competition, poses the most serious threat to the decentralized perpetual futures platform.

The token was down 1.4% over the preceding 24 hours, according to CoinGecko data, marking a continued cooldown after a sharp mid-week spike. It traded in a range between $78.41 and $83.63 during that period, well off the highs seen earlier in the week.

The pullback coincided with remarks from Ran Neuner, founder of Crypto Banter, who argued on Cointelegraph's Chain Reaction podcast that governments are likely to turn their attention to decentralized exchanges once they finish building rulebooks for centralized platforms. His comments quickly became a focal point in discussions about Hyperliquid's long-term trajectory.

Regulatory uncertainty tops the risk list

Neuner framed the issue in straightforward terms: authorities have already begun establishing licensing regimes for centralized crypto businesses, including Europe's MiCA framework. Once those structures are settled, he said, decentralized venues could be next in line.

"The governments have just started to regulate centralized exchanges... And I think that when that's done, they come in for the decentralized exchanges," he said during the podcast appearance.