Crypto
Hype Breaks All-Time High After Hyperliquid Loan Rollout
Hype (HYPE) has broken its previous record and reached an all-time high of $92.56 on September 18, after a 10.5% gain in the past 24 hours.
This increase can be attributed to the rollout of manual USDC and USDT borrowing against HYPE and Bitcoin collateral by Hyperliquid, which allows users to borrow stablecoins against their supplied HYPE or Bitcoin at a loan-to-value ratio of 65% for HYPE and 50% for Bitcoin.
The token has shown significant growth in recent days, with trading volume reaching approximately $1.72 billion over the past 24 hours and its market capitalization standing near $20.3 billion.