HYPE rises 5% to $41 after Coinbase becomes Hyperliquid's official USDC treasury deployer and expands its staked HYPE position.
The crypto market has long evolved in the shadow of bitcoin. When BTC progressed, altcoins followed.
Coinbase became the official treasury deployer of USDC on Hyperliquid, positioning USDC as an Aligned Quote Asset for onchain trading markets. Native Markets agreed to terms granting Coinbase the right to purchase USDH brand assets, while USDH remains fully functional during transition.
The stablecoin issuer said Hyperliquid is evolving beyond perpetual futures trading into outcome-based markets.
Coinbase is stepping in as the official treasury deployer for USDC on Hyperliquid under a new framework called AQAv2, ending a fragmented stablecoin setup on one of decentralized finance's most active perpetuals platforms.
The agreement also includes Native Markets granting Coinbase purchasing rights for USDH-branded assets. Coinbase has become the official USDC treasury deployer on Hyperliquid, strengthening the crypto exchange's push to expand the stablecoin's presence deeper into decentralized finance infrastructure.
Coinbase is taking over treasury responsibilities for USDC on Hyperliquid, deepening its involvement in decentralized trading infrastructure and accelerating the institutionalization of the rapidly growing derivatives-focused blockchain network.
Coinbase will manage USDC liquidity on Hyperliquid, deepening ties with one of crypto's fastest-growing trading platforms.
HYPE whales accumulated over $21.3 million while traders defended the critical ascending channel support zone.
The first Hyperliquid (HYPE) ETF debut in the US on Tuesday drew attention quickly after the fund reportedly logged more than $1 million in inflows on day one. However, trading conditions changed fast.
HYPE weakened despite THYP recording nearly $1.8 million in debut trading volume, highlighting a split between ETF visibility and token demand. The ETF was presented as physically backed by HYPE, staking enabled, with a 0.30% fee and FTSE Russell-backed pricing.
Hyperliquid price extended its decline on Tuesday after failing to hold above a key resistance zone, raising concerns that a bearish double top pattern may now be forming on the daily chart. According to data from crypto.