Hyperliquid (HYPE) Surges to All-Time High as Collateral Lending Feature Launches

Key Highlights

• The HYPE token achieved an unprecedented peak of $92.56 on September 18.
• The platform rolled out manual stablecoin borrowing functionality with HYPE or BTC as backing.
• Platform data shows approximately $269 million in loans issued during the inaugural day.
• The HYPE token offers a 65% loan-to-value threshold, exceeding Bitcoin’s 50%.
• Payward intends to provide compliant Hyperliquid perpetual contracts to qualifying U.S. traders, subject to regulatory green light.

The native token of Hyperliquid soared to unprecedented levels following the platform’s introduction of a lending mechanism enabling users to secure stablecoin loans using HYPE and Bitcoin as collateral.

Hyperliquid (HYPE) Price

On September 18, HYPE touched $92.56, eclipsing the prior high of $89.57 from earlier this month. Subsequently, the asset traded around $91.20, reflecting a 10.5% gain across 24 hours.

The token fluctuated between approximately $81.70 and $92.56 throughout the day amid heightened trading interest. HYPE’s total market value hovered near $20.3 billion.

Daily transaction volume hit approximately $1.72 billion. Over the preceding month, HYPE demonstrated a 57.1% appreciation.

This rally coincided with Bitcoin’s upward movement, which traded near $80,981 following a session gain of roughly 5.6%.

Platform Rolls Out Collateral-Based Lending Feature

On September 18, Hyperliquid debuted its manual borrowing service via HyperCore. The system allows participants to deposit HYPE or Bitcoin and obtain USDC or USDT loans against these holdings.

The HYPE token supports a 65% loan-to-value ratio. Under this structure, $1,000 worth of HYPE collateral enables borrowing up to $650 based on oracle pricing.

Bitcoin features a more conservative 50% threshold. Consequently, identical $1,000 collateral would permit maximum borrowing of $500.

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

Users who borrow stablecoins incur interest charges, while those supplying USDC and USDT generate yield proportional to platform utilization. The protocol retains 10% of borrower interest payments as a reserve fund for potential liquidations.

Hyperliquid establishes an 82.5% partial liquidation point for HYPE collateral, versus 75% for Bitcoin. Declining asset values, withdrawals, or accruing interest can push accounts toward liquidation territory.

Regulated U.S. Markets and Growing Ecosystem

Additional catalysts have drawn attention to Hyperliquid. On September 16, Payward, the entity behind Kraken, revealed intentions to deliver regulated Hyperliquid trading venues to qualified U.S. participants via Bitnomial.

The contemplated offering would leverage Hyperliquid’s HIP-3 framework, with Bitnomial managing regulated market operations, clearing protocols, and settlement procedures.

This initiative awaits regulatory authorization, and no timeline has been disclosed.

NEAR has additionally integrated perpetual futures trading through Hyperliquid, enabling participants to access over 50 trading pairs with leverage capabilities extending to 40x.

Based on current market information, HYPE’s record high stands at $92.56, with the token maintaining levels above $90 following the borrowing feature activation.

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