HYPE climbed to a peak of $90.92 once Hyperliquid initiated manual borrowing, allowing participants to secure stablecoin loans backed by HYPE and Bitcoin reserves.
HYPE, the native digital token of the Hyperliquid layer-1 blockchain and decentralized exchange ecosystem, reached a brand new all-time high past $90 on Friday as the network introduced manual borrowing capabilities.
HYPE climbed as high as $90.92 shortly after Hyperliquid announced that community members can now deposit HYPE and Bitcoin as collateral to acquire USDC and Tether’s USDt (USDT) stablecoins.
“Manual borrows are live on Hyperliquid,” the protocol stated, noting that this capability and its portfolio-margin mechanism share the exact same underlying HyperCore architecture. Hyperliquid co-founder Jeff Yan explained that this setup ensures every borrowed asset originates from a lender instead of being minted through platform-level margin bookkeeping.
The fresh functionality grants users the ability to borrow USDC or USDT directly against HYPE or Bitcoin assets, broadening borrowing access beyond Hyperliquid’s portfolio margin system. Hyperliquid disclosed $269 million in total borrowed assets across the foundational infrastructure on Friday.
This deployment arrives two days after Payward, the parent organization behind cryptocurrency platform Kraken, revealed intentions on Wednesday to roll out onchain perpetual futures markets for US customers, beginning with Hyperliquid’s HIP-3 markets.
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Originally published at https://cointelegraph.com/markets/hype-ath-above-90-hyperliquid-manual-borrowing-lending?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
