Hyperliquid launched a manual borrowing feature for its native HYPE token and Bitcoin. Users can supply these assets as collateral to borrow USDC and USDT stablecoins. This expansion introduces a credit layer and a new utility for HYPE holders.
The platform recorded $269 million in borrowed assets during the first day of operation. The HYPE token price surged over 13% following the launch. The asset reached a new all-time high above $90.
The new functionality supports a 65% loan-to-value ratio for HYPE collateral. Bitcoin collateral allows for a 50% loan-to-value ratio.