HYPE Price Surges Following Hyperliquid’s Manual Borrowing Feature Launch
- HYPE price increased over 13% in the last 24 hours, currently trading at $90.45.
- Total assets borrowed on Hyperliquid reached $269 million since the manual borrows feature went live on September 18.
- Users can borrow USDC and USDT using HYPE and Bitcoin as collateral, with HYPE having a loan-to-value (LTV) of 65%.
- Bitcoin price rose above $78,000, up more than 2%, as Fed rate hike sentiment eased.
- BTC futures open interest increased by nearly 4% to approximately $53.5 billion in the past day.
The recent launch of manual borrowing on Hyperliquid has expanded DeFi lending options, allowing users to leverage their HYPE and Bitcoin holdings for loans in stablecoins like USDC and USDT. This feature is expected to enhance user engagement and liquidity within the platform.
As of now, HYPE has surged nearly $90 with a significant increase in trading volume, reflecting heightened interest among traders following the new feature rollout.(Source)
