Bitcoin, ether and other cryptocurrencies surged after U.S. President Donald Trump urged Congress to pass a bill expected to boost the sector.

Trump also hinted at regulating Hyperliquid, the decentralized exchange that’s been garnering popularity among traders as the home base of “perpetual futures” trading. The Hyperliquid token rose about 20% over the past 24 hours, according to CoinGecko data.

A retreat in Treasury yields also helped to boost trading in the iShares Bitcoin Trust ETF (IBIT) which was more than 4.5 times the 30-day average even before the Hyperliquid headlines. Bitcoin volatility measured by Volmex Labs’ BVIV Index rose to above 43.5 after hitting a year-to-date low of 35.5…