🔥 HYPE just hit an all-time high — and there's a reason

HYPE, the native token of Hyperliquid's layer-1 blockchain and decentralized derivatives exchange, touched $90.92 on Friday — seconds after the protocol launched manual borrowing.

The setup: post HYPE or Bitcoin as collateral, borrow USDC or USDT directly from real suppliers via HyperCore — no platform-level accounting magic. Day-one borrowing hit $269 million.

For context: two days prior, Kraken announced onchain perpetual futures for US clients, also routed through Hyperliquid. The platform is quietly becoming infrastructure.

CoinDesk has the details.

Cointelegraph