Hyperliquid Token Smashes New All-Time High Amid Ecosystem Growth

The Hyperliquid token has smashed a new all-time high (ATH), pushing above $90 as buying momentum accelerates. The breakout comes as Payward, Kraken's parent company, plans to offer regulated US perpetual futures using Hyperliquid's infrastructure.

Several developments across the ecosystem have contributed to the rally. One fresh catalyst is the launch of manual borrowing, where users can now supply HYPE or Bitcoin as collateral to borrow USDC and USDT directly. Hyperliquid reported $269 million in borrowed assets across its underlying infrastructure.

The regulatory backdrop has also strengthened the narrative. The US SEC granted an innovation exemption for certain tokenised stock trading on decentralised platforms. Payward's earlier announcement adds another layer, as it plans to offer US clients on-chain perpetual futures through Hyperliquid's HIP-3 markets.

With HYPE now trading in the price discovery phase, attention is shifting toward the $100 psychological level. To reach this target, HYPE would need to gain about 9.8% from its current price of $91.07.