Hyperliquid Token Soars to Record High Amid Collateral Lending Feature Launch

The Hyperliquid (HYPE) token has reached an all-time high of $92.56 after the platform introduced a manual stablecoin borrowing feature that allows users to secure loans using HYPE or Bitcoin as collateral.

The feature, which was launched on September 18, enables participants to deposit HYPE or BTC and obtain USDC or USDT loans against these holdings.

According to Hyperliquid's announcement on X, approximately $269 million in assets were borrowed within the initial 24 hours of operation.

The HYPE token supports a 65% loan-to-value ratio, while Bitcoin features a more conservative 50% threshold.