Circle Launch Native USDC na for Hyperliquid, Buy $4.6M HYPE
Circle don launch native USDC for Hyperliquid HyperEVM, wey go replace bridged tokens and join im dollar-backed stablecoin inside the platform spot and perpetual derivatives markets. The upgrade dey use Circle’s Cross-Chain Transfer Protocol v2 to make cross-chain liquidity better. On-chain data show say Circle buy $4.6 million of HYPE tokens and e dey think about to become validator for Hyperliquid wey get 21-member stake pool. This deep integration come before Hyperliquid go launch their USDH stablecoin. If Hyperliquid change im $5.9 billion USDC collateral to USDH, Circle fit lose up to $200 million for annual reserve income. This move go improve USDC liquidity, market reach and governance power.
Bullish
Di launch of native USDC plus im work together wit Hyperliquid’s derivatives platform tru CCTP v2 go make cross-chain liquidity better and expand how people fit use USDC for trading. Dis one go likely make demand and use of USDC grow for both spot and perpetual markets, wey go support how market balance and peg dey stay strong. For short time, traders fit put more USDC for hedging and margin, wey go drive higher on-chain volume. For long term, Circle role as validator and token investment go deepen how protocol governance relate, and e go further confirm USDC position for DeFi derivatives networks. All dis things together mean say USDC adoption get better chance, even though the peg still stable.