Hyperliquid Price Recovers After Recent Dip
Hyperliquid (HYPE) price is rising again on Wednesday. It trades above $55 after falling from last week’s record high of $57.40. The price recovery is driven by increased network activity. The USDC stablecoin is now live on the Hyperliquid network. In the past 24 hours, HYPE’s fee collection surpassed Ethereum (ETH) and Solana (SOL).
USDC Stablecoin Launches on Hyperliquid Network
On Tuesday, USDC announced its native stablecoin and Cross-Chain Transfer Protocol (CCTP V2) are now available on Hyperliquid’s Ethereum Virtual Machine (EVM). This allows users to deposit USDC into HyperCore and other HyperEVM apps. It makes deposits, trading, and DeFi activities easier and safer.
This launch could boost Hyperliquid’s adoption and revenue. It may also increase the value of the HYPE token by attracting more liquidity to the network.
Record Fees and Strong Financial Performance in Q3
Data from Artemis Terminal shows Hyperliquid collected $2.5 million in chain fees over 24 hours. This is higher than fees collected by Ethereum and Solana. It signals growing interest and liquidity on the HYPE chain.
The Reflexivity weekly report revealed that Hyperliquid’s Q3 financials hit new records. Total fees reached $250.45 million. Token Holder Net Income rose to $243.59 million. These results were achieved by a small team of just 11 people.
