Hyperliquid


Finance

Ethena Joins Race for Hyperliquid's Stablecoin With BlackRock-Backed Proposal

Ethena's proposed stablecoin promises to return 95% of revenue to Hyperliquid’s ecosystem.

Digitally altered photo of a dollar bill (Ryan Quintal/Unsplash, Modified by CoinDesk)

Markets

Sky Pitches Genius-Compliant USDH Stablecoin With $8B Balance Sheet and 4.85% Yield

Formerly MakerDAO, Sky joins Paxos, Frax, Agora and Native Markets in the fight for Hyperliquid’s stablecoin contract.

(Adam Nir/Unsplash)

Markets

Circle's USDC Market Share 'On a Tear,' Says Wall Street Broker Bernstein

USDC supply has surged to $72.5 billion, 25% ahead of Bernstein’s 2025 estimates.

Jeremy Allaire, Co-Founder, Chairman and CEO, Circle Speaks at Hong Kong Fintech Week in 2024 (HK Fintech Week)

Finance

Lion Group Plans to Swap SOL, SUI Holdings for HYPE

The company began acquiring HYPE tokens in late June, having previously announced its Hyperliquid treasury initiative

Night view of Singapore from the habor. (Larry Teo/Unsplash)

Markets

Hyperliquid Faces Community Pushback Against Stripe-Linked USDH Proposal

Paxos, Frax and Agora are competing for Hyperliquid’s USDH stablecoin contract as MoonPay backs Agora CEO Nick van Eck’s coalition and concerns mount over Stripe’s potential conflicts of interest.

Hyperliquid faces community pushback against Stripe-linked stablecoin proposal. (Getty Images/iStockphoto)

Tech

Popular DEX Hyperliquid Moves Forward to Launch Proprietary Stablecoin

A proprietary stablecoin could reduce Hyperliquid's dependency on USDC and potentially capture a part of the revenues from reserve assets.

U.S. dollar (Unsplash, modified by CoinDesk)

Markets

Hyperliquid’s HYPE Token: Why Arthur Hayes Thinks It Has 126x Upside Potential

Arthur Hayes argues that fiat decline drives stablecoin saving, funneling into crypto speculation—and Hyperliquid is the exchange built for that wave.

CoinDesk Data chart showing 24-hour HYPE-USD price on Aug. 30, 2025

Markets

Hyperliquid’s HYPE Hits Record High Above $50 on Trading Boom, Token Buybacks

Analysts highlight Hyperliquid's strong fundamentals but caution about potential risks from scheduled token unlocks and its high valuation.

HYPE price on Aug. 27 (CoinDesk)

Markets

XPL Futures on Hyperliquid See $130M Wiped Out Ahead of the Plasma Token's Launch

Open interest on Hyperliquid’s XPL market plunged from $160 million to $30 million in minutes as a trader-triggered price spike caused mass auto-deleveraging.

How low can bitcoin price go? (Getty Images+/Unsplash)

Markets

Crypto Markets Today: Bitcoin Dominance Slip While Hyperliquid's Volume Soars to $3.4B

"Sell of Rally" sentiment weighs on BTC as ETH's futures and options markets hit record highs.

A traveler examines a departures or arrivals board. (TungArt7/Pixabay)