According to CNBC, at the time of reporting, the implied price of Hyperliquid's Anthropic perpetual contract was around $98, corresponding to an implied market cap of approximately $1.7 trillion; the 24-hour trading volume for its two tracking contracts was about $250 million. The report compares this with the proposed IPO range of $70 to $78 mentioned in the article to discuss traders' expectations of the market reaction. The above are derivative contract quotes and reporting comparison baselines, and do not equal actual stock execution prices or the final IPO pricing.