Hype (HYPE) Surges 4.09% in 13 Hours Amid Native Lending Launch
The cryptocurrency Hype (HYPE) has seen significant price action over the past 13 hours, surging by 4.09 percentage points.
This move is attributed to several key catalysts, including the launch of native lending using HYPE as collateral on September 18th, which allowed users to borrow USDC and USDT directly on Hyperliquid's chain with a loan-to-value ratio of 65% for HYPE and 50% for BTC.
The feature saw strong use immediately after its launch, with $269M in assets borrowed on day one, effectively turning HYPE into a productive collateral asset that can be used to unlock liquidity while continuing to hold exposure.
In addition to the lending feature, other structural tailwinds for HYPE include record trading and derivatives activity, with perp volume and open interest hitting or approaching record levels. Hyperliquid's model also routes 97-99% of core trading fees into open-market HYPE buybacks, which mechanically increases buy pressure.
The price surge is also attributed to a broader crypto risk-on rally and favorable regulatory/institutional news that specifically highlight Hyperliquid, amplifying flows into HYPE during the same window.