HYPE Hits Record High as Hyperliquid Unveils Manual Borrowing Feature

The native cryptocurrency HYPE reached a new all-time high of $90.92 on Friday after Hyperliquid introduced manual borrowing, allowing users to borrow stablecoins against HYPE and Bitcoin collateral.

Users can now supply HYPE or Bitcoin as collateral to borrow USDC and Tether's USDt (USDT) through the manual borrowing feature.

Hyperliquid co-founder Jeff Yan explained that every borrowed asset comes from a supplier rather than being created through platform-level margin accounting, thanks to the protocol's HyperCore infrastructure.