HYPE trades at $91.19, down 1% on the day, just $3 away from its all-time high of $94.48 reached earlier this week, after being under $80 a week ago. Hyperliquid launched its Manual Borrows feature on September 18, allowing users to post HYPE or Bitcoin as collateral to borrow USDC and USDT directly on HyperCore infrastructure. Total borrowed assets have reached $269 million, with loan-to-value ratios of up to 65% for HYPE (82.5% liquidation threshold) and 50% for Bitcoin (75% threshold). The launch triggered a 13% single-day rally to $90.92, alongside a 75% jump in trading volume, pushing the protocol’s market capitalization above $20 billion.
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