$HYPE Soars to New All-Time High on Hyperliquid Network Milestones
Hyperliquid's HYPE token has reached an all-time high of $93.04, marking a sharp reversal in sentiment after slipping to $78.67 last week due to regulation concerns.
The rally is driven by two separate developments: the rollout of manual borrowing against and Bitcoin collateral on the Hyperliquid network, and a chain-level total value locked milestone that puts Hyperliquid level with Arbitrum for the first time.
Users can now borrow USDC and USDT against $HYPE or Bitcoin collateral directly on Hyperliquid, expanding on the portfolio margin system the exchange has been rolling out in stages throughout the year.
The platform's TVL has also reached a milestone, matching Arbitrum's with both near $1.39 billion, pushing Hyperliquid to rank #7 among all blockchains by that metric.