HYPE hit a record $90.92 after Hyperliquid opened manual borrowing, letting users borrow stablecoins against HYPE and Bitcoin collateral.
HYPE, the native cryptocurrency of the Hyperliquid layer-1 blockchain and decentralized trading platform, set a fresh all-time high above $90 on Friday as the protocol rolled out manual borrowing.
HYPE surged as high as $90.92 shortly after Hyperliquid announced users can now supply HYPE and Bitcoin as collateral to borrow the stablecoins USDC and Tether’s USDt (USDT).
“Manual borrows are live on Hyperliquid,” the protocol said, adding that the feature and its portfolio-margin system use the same underlying HyperCore infrastructure. Hyperliquid co-founder Jeff Yan said the design means every borrowed asset comes from a supplier rather than being created through platform-level margin accounting.
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