HYPE Token Surges Past $90 as Hyperliquid Adds Manual Borrows
Hyperliquid's HYPE token has reached a new all-time high of $90 as the platform expands its borrowing capabilities. Users can now borrow USDC and USDT against their HYPE or Bitcoin holdings, with over $400 million in supplied liquidity available from launch.
The manual borrows feature allows users to post HYPE and BTC as collateral to borrow USDC or USDT, with borrowed assets paying interest while supplied quote assets earning interest. Rates adjust according to utilization, adding a direct credit function to the platform.
The move has seen significant activity on Hyperliquid, with $269 million in assets borrowed on the first day of the rollout. This adds another role for HYPE beyond trading, as it can now serve as collateral inside Hyperliquid's borrowing infrastructure.