Hyperliquid Surges 4.46% as USDH Stablecoin Launch Nears

Hyperliquid's latest price was $47.36, up 4.457% in the last 24 hours. Hyperliquid is advancing plans for its proprietary USDH stablecoin, with the decentralized exchange revealing that the launch will be governed through validator voting. This initiative aims to establish a native stablecoin ecosystem while potentially reducing reliance on third-party stable assets. According to recent protocol updates, Hyperliquid will allow validators to propose and select the implementation team for USDH during the upcoming network upgrade. This governance-centric approach marks a strategic step in developing Hyperliquid's decentralized finance infrastructure while potentially capturing revenue opportunities from reserve assets. In preparation for the stablecoin rollout, Hyperliquid implemented an 80% reduction in trading fees. This significant fee structure adjustment is designed to enhance platform liquidity and accessibility ahead of USDH integration, strengthening the overall DeFi ecosystem. The stablecoin proposal has generated discussion within Hyperliquid's community, with an established protocol on the platform criticizing the USDH announcement as "unfair." This indicates ongoing dialogue about the stablecoin's implementation framework and governance model as development progresses. While advancing stablecoin development, Hyperliquid's buyback program continues operating within its ecosystem. The initiative has significantly reduced token circulation, though the platform maintains focus on building infrastructure rather than token-centric operations. Hyperliquid's growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the DEX to deepen liquidity and lower barriers for traders by cutting costs at this scale. Hyperliquid also plans to expand access to spot quote assets by making them permissionless. That rollout will begin on the testnet and eventually add staking requirements and slashing penalties to maintain security. Together, these measures are designed to align user incentives while decentralizing participation in the exchange. The planned updates arrive as Hyperliquid records accelerating growth on its trading platform. As activity expands on the platform, the governance token HYPE has mirrored the momentum. The move to launch USDH could weigh heavily on Circle’s USDC, currently the main settlement currency for derivatives trading on Hyperliquid. A complete migration to USDH could generate an additional revenue for HYPE token holders. At the same time, the shift would cut into Circle’s revenues by an equivalent amount. This shift would also represent a reduction in USDC’s outstanding supply. Hyperliquid’s growth has been accelerating, with its monthly trading volume reaching a new all-time high in August, pushing its market share above 60%. The planned updates are designed to align user incentives while decentralizing participation in the exchange. The protocol is also reshaping its market structure to improve trading efficiency, with plans to reduce taker fees, maker rebates, and user volume contributions by 80% for spot pairs that involve two quote assets. This move would allow the