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Ethena Labs has submitted a proposal to operate Hyperliquid’s native USDH stablecoin, outlining a structure that begins with full collateralization in USDtb and a governance-linked security model. Blackrock, Securitize Ties Featured in Ethena’s USDH Bid for Hyperliquid The latest bid from Ethena positions USDH as “Hyperliquid-first,” initially backed 100% by USDtb, a stablecoin whose reserves … Read more
As competition intensifies ahead of Hyperliquid’s Sept. 14 validator vote on its USDH stablecoin, Sky, Bastion, and Native Markets have submitted proposals to provide infrastructure, joining earlier bidders Frax Finance, Paxos, and Agora. Sky, Bastion, and Native Markets Enter Hyperliquid’s USDH Stablecoin Infrastructure Race Sky, formerly known as Makerdao, proposed a decentralized issuance model for … Read more
Hyperliquid’s stablecoin race drew bids from Agora, Paxos, and Frax this week, but another headline move is Circle’s plan to deploy native USDC and Cross-Chain Transfer Protocol (CCTP) V2 on Hyperliquid. Allaire Signals Big Bet on Hyperliquid With Native USDC, CCTP V2 Circle disclosed that native USDC and CCTP V2 will launch on HyperEVM, enabling … Read more
Amid the competition to secure a role in providing stablecoin infrastructure for USDH, Hyperliquid’s native crypto token HYPE climbed to a record peak of about $51.84 per coin. Interest in Hyperliquid Lifts HYPE Over $51 and $13.9B Valuation On Monday, HYPE, the utility coin tied to Hyperliquid, reached an unprecedented all-time high of $51.84. Hyperliquid … Read more
This week, Hyperliquid received competing proposals from Paxos, Agora, and Frax to supply stablecoin infrastructure for USDH, with each bidder emphasizing regulatory posture, distribution, and how yield from reserves would be shared with the ecosystem. Hyperliquid Is Now Weighing Multiple Proposals Bitcoin.com News previously reported on Paxos on Sunday, Sept. 7, and Paxos’s written bid … Read more
A major action has grabbed the attention of analysts and traders on the blockchain, as a gigantic crypto whale took a bold stand against $HYPE, the native token of the swiftly blossoming HyperLiquid ecosystem. Appearing to make a not-so-invisible move, the whale took 812,665 USDC—about $813,000—from Binance three hours ago and quickly bridged the stablecoin … Read more
In a dramatic turn of events, the decentralized trading platform Hyperliquid has been hit by a major exploit that involved some really dodgy leveraged trading on an illiquid coin named JELLYJELLY. This exploit, we are sad to announce, resulted in draining huge funds from Hyperliquid, totaling about $8 million. For a quick visual run-through of … Read more
Hyperliquid, a decentralized exchange (DEX) platform, delisted the JELLY token on March 26, 2025, following suspected market manipulation that triggered a $10.63 million loss, prompting emergency intervention by its validator network. Hyperliquid Delists JELLY Amid Suspected Market Manipulation Hyperliquid, a decentralized exchange (DEX) protocol operating on its proprietary layer one (L1) blockchain, removed the JELLY … Read more
A prominent cryptocurrency trader is enjoying unprecedented success with high-leverage positions on the Hyperliquid platform, netting over 15 million US dollars to date. This morning, the trader opened his seventh position on the platform, which has already racked up an impressive profit of 1.188 million US dollars. The trader’s uncanny ability to navigate the volatile … Read more
On March 12, official data revealed that the HyperLiquid Treasury (HLP) suffered a short-term loss of over $4 million, with many speculating that the cause of this substantial loss was tied to the liquidation of a massive 160,000 ETH position. The event marks a significant moment for HyperLiquid, a platform known for its high-leverage trading, … Read more