Hype Surges Past $90 as Hyperliquid Launches Manual Borrowing Feature

Hype (HYPE) has hit a new all-time high above $90 following the launch of manual borrowing on Hyperliquid. The feature allows users to borrow stablecoins USDC and Tether's USDt (USDT) against HYPE or Bitcoin collateral.

The surge comes after Hyperliquid announced that manual borrows are live, with the co-founder Jeff Yan explaining that every borrowed asset comes from a supplier rather than being created through platform-level margin accounting. The new feature extends direct access to borrowing beyond Hyperliquid's portfolio margin system.

Hype has reached a price of $90.92, with Hyperliquid reporting $269 million in assets borrowed across the underlying infrastructure on Friday. This move follows Payward's announcement to deploy onchain perpetual futures markets for US clients on Hyperliquid's HIP-3 markets.