{"id":532342,"date":"2025-09-28T22:30:07","date_gmt":"2025-09-28T17:00:07","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=532342"},"modified":"2025-09-28T14:59:37","modified_gmt":"2025-09-28T09:29:37","slug":"hyperliquid-launches-usdh-just-as-rival-aster-brings-the-heat-what-now","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/hyperliquid-launches-usdh-just-as-rival-aster-brings-the-heat-what-now\/","title":{"rendered":"Hyperliquid launches USDH just as rival ASTER brings the heat – What now?"},"content":{"rendered":"

Key Takeaways<\/strong><\/h2>\n

What is USDH, and how does it impact Hyperliquid?<\/em><\/h3>\n

USDH is Hyperliquid\u2019s new stablecoin, backed by cash and Treasuries, launched to boost its trading ecosystem.<\/p>\n

Is Hyperliquid losing ground to its rival Aster?<\/em><\/h3>\n

Yes, Aster has overtaken Hyperliquid in weekly volume, and with a $12B HYPE token unlock coming, pressure on HYPE may continue to build.<\/p>\n

\n

Hyperliquid [HYPE]<\/a> just rolled out its very own stablecoin \u2014 USDH!<\/p>\n

While that\u2019s happening, its rival Aster [ASTER]<\/a> has dethroned it in weekly trading volume.<\/p>\n

Add to that a massive $12 billion HYPE token unlock on the horizon, and you\u2019ve got the perfect setup for some serious market shifts.<\/p>\n

USDH goes live with HYPE at its core<\/h2>\n

Native Markets officially rolled out USDH<\/a> on the 27th of September, making it available across both spot and derivatives markets.<\/p>\n

Traders can pair the stablecoin against Hyperliquid\u2019s governance token, HYPE, as well as USDC.<\/p>\n

\"Hyperliquid\"<\/a>
Source: X<\/figcaption><\/figure>\n

The team locked 200,000 HYPE for three years to cement the launch. Ahead of the listing, $15 million worth of USDH was pre-minted to seed liquidity, backed by cash and U.S. Treasuries.<\/p>\n

What\u2019s more, reserve returns will help fund regular HYPE buybacks, a move that could strengthen the token\u2019s economic base over time.<\/p>\n

Is HYPE losing to Aster?<\/h2>\n

Rival exchange Aster, backed by YZi Labs (the family office of Binance founder Changpeng Zhao) recently pulled ahead in weekly trading volume, doubling Hyperliquid\u2019s numbers.<\/p>\n

Even so, Hyperliquid still holds the edge on a 30-day basis, with over $303 billion in activity.<\/p>\n

That lead, however, may not last long.<\/p>\n

\"\"<\/a>
Source: DeFiLlama<\/figcaption><\/figure>\n

Starting in November, nearly 238 million HYPE tokens, worth about $12 billion, will be gradually unlocked over two years. With HYPE already down more than 20% in the past week, the market is bracing for turbulence.<\/p>\n

Technical picture looks shaky<\/h2>\n

HYPE\u2019s daily chart showed clear signs of weakness<\/a> at press time.<\/p>\n

\"\"<\/a>
Source: TradingView<\/figcaption><\/figure>\n

The token traded around $44.5 after sliding more than 20% over the past week. The RSI showed bearish momentum, but not yet oversold conditions.<\/p>\n

Meanwhile, the MACD stayed below zero with a widening bearish crossover; sellers still had the upper hand. Even though HYPE tried to bounce off recent lows, the lack of strong buying pressure kept recovery limited.<\/p>\n","protected":false},"excerpt":{"rendered":"

A new stablecoin hits the market, but a $12B HYPE unlock looms.<\/p>\n","protected":false},"author":114,"featured_media":532419,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[6427],"class_list":["post-532342","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"\nHyperliquid launches USDH just as rival ASTER brings the heat - What now? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Hyperliquid launches its new stablecoin USDH to support the HYPE token, just as rival exchange Aster overtakes it in trading volume.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/hyperliquid-launches-usdh-just-as-rival-aster-brings-the-heat-what-now\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hyperliquid launches USDH just as rival ASTER brings the heat - What now? 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