Native tokens of decentralized exchanges Uniswap (UNI) and Hyperliquid (HYPE) experienced a significant daily rally, rising by 30% and 13% respectively. On September 18, HYPE reached an all-time high of $91, while UNI surpassed the $9 mark for the first time since November 2025.
The market movement follows a decision by the SEC to grant a five-year conditional Innovation Exemption. This allows platforms for tokenized securities to operate without registering as traditional exchanges under the Securities Exchange Act of 1934.
Additionally, the CFTC has expanded exemptions for providers of passive trading software. These tools, which may be integrated into crypto wallets, now cover event contracts, perpetual futures, and other regulated derivatives.
Tokenized assets, including digital stocks, commodities, and indices, currently show high liquidity on platforms like Hyperliquid. While Uniswap sees lower activity in this sector compared to Hyperliquid, tokenized assets there still outperform categories such as meme tokens.
