Hyperliquid Token Hits All-Time High Amid Manual Borrowing Launch

The Hyperliquid (HYPE) token has reached an all-time high after increasing by 10.57% in just one day, trading at $91.81 as of this writing.

This significant price surge coincides with the launch of a major new feature on the platform: manual borrowing went live on Hyperliquid's HyperCore infrastructure, allowing users to supply HYPE or BTC as collateral to borrow USDC or USDT directly on-platform.

According to CoinGecko, trading volume hit $1.65 billion, having risen 10.50% over the past week, with HYPE outperforming the broader crypto market by a significant margin.

The rally is also driven by institutional developments, including the listing of a physically backed HYPE exchange-traded product on the Warsaw Stock Exchange and plans for U.S. distribution announced by Kraken parent Payward.