HYPE reaches new high above $90 as Hyperliquid adds manual borrowing

HYPE, the native token of the Hyperliquid layer‑1 blockchain and decentralized trading platform, hit a fresh all‑time high of $90.92 following the launch of a manual borrowing feature.

Manual borrowing goes live

Hyperliquid announced that users can now supply HYPE or Bitcoin as collateral to borrow the stablecoins USDC and USDT. The protocol said the new feature and its portfolio‑margin system share the same HyperCore infrastructure, and that each borrowed asset is sourced from a supplier rather than being created through platform‑level margin accounting.

Impact on borrowing activity

Following the rollout, Hyperliquid reported $269 million in assets borrowed across its underlying infrastructure on the same day.

Related market developments

Two days earlier, Payward, the parent company of Kraken, announced plans to launch on‑chain perpetual futures markets for U.S. clients, beginning with Hyperliquid’s HIP‑3 markets.