Quick Summary
- HYPE token achieved an unprecedented all-time high of $92.56 on September 18.
- The platform rolled out a manual borrowing system for USDC and USDT with HYPE or Bitcoin serving as collateral.
- Platform data shows approximately $269 million in loans were initiated within the first 24 hours.
- The HYPE token features a 65% loan-to-value ratio, while Bitcoin sits at 50%.
- Payward is preparing to launch regulated Hyperliquid perpetual contracts for qualified U.S. traders, subject to regulatory clearance.
The HYPE token from Hyperliquid surged to an unprecedented peak following the platform’s introduction of a lending mechanism enabling users to secure stablecoin financing using HYPE and Bitcoin as backing.
On September 18, HYPE touched $92.56, eclipsing its prior peak of $89.57 established earlier this month. At press time, the token was hovering around $91.20, reflecting a 10.5% gain across 24 hours.
The token’s daily price swing ranged from approximately $81.70 to $92.56 amid heightened market participation. HYPE’s total market valuation approached $20.3 billion.
Daily transaction volume hit approximately $1.72 billion. Additionally, HYPE demonstrated a 57.1% climb over the preceding month.
This rally coincided with Bitcoin’s upward movement, with BTC trading around $80,981 following a roughly 5.6% intraday increase.
Hyperliquid Unveils Collateral-Based Lending System
On September 18, Hyperliquid deployed manual lending capabilities via HyperCore. Participants can now deposit HYPE or Bitcoin as security and obtain USDC or USDT loans against their holdings.
The HYPE token features a 65% loan-to-value threshold. Consequently, $1,000 worth of HYPE enables borrowers to access up to $650 based on current oracle pricing.
Bitcoin operates under a more conservative 50% threshold. An identical $1,000 collateral deposit would thus permit borrowing of up to $500.
According to an announcement on X, Hyperliquid reported that approximately $269 million in loans were initiated during the feature’s inaugural day.
Loan recipients incur interest charges on borrowed stablecoins, while USDC and USDT providers generate interest income proportional to utilization rates. The platform retains 10% of borrower interest as a protective reserve for potential liquidation events.
Hyperliquid establishes HYPE’s partial liquidation point at 82.5%, versus 75% for Bitcoin. Declining asset values, capital withdrawals, and accruing interest expenses can push accounts toward liquidation territory.
American Market Access and Platform Growth
Additional initiatives have drawn attention to Hyperliquid. On September 16, Payward, the corporate entity behind Kraken, revealed intentions to provide regulated Hyperliquid trading options to qualified American customers via Bitnomial.
The contemplated offering would leverage Hyperliquid’s HIP-3 framework, with Bitnomial overseeing regulated market operations, clearing procedures, and settlement functions.
This initiative awaits regulatory authorization, with no confirmed rollout timeline currently disclosed.
NEAR has additionally integrated perpetual futures trading via Hyperliquid, providing participants with access to over 50 trading pairs featuring leverage options up to 40x.
Based on current market information, HYPE’s record high stands at $92.56, with the token maintaining levels above $90 following the lending feature’s activation.
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