Hyperliquid Price reached a record high, after news about a stablecoin launch and a large institutional voice of trust.
Summary
- Hyperliquid reached an ATH after several large announcements
- The Fintech and Trading platform Lion Group Sloot Solana and Sui for Hype
- The protocol is preparing for important technical upgrades and its own Stablecoin launch
On Monday, September 8, the hyperliquid (hype) price rose by 7.5%and reached a record high of $ 51.89. With a market capitalization of $ 16 billion, Hype is now the eleventh largest crypto assets, before Chainlink (LINK). The relocation followed various important developments for the DEX, including a big kink of trust from an institutional player, networkupgrades and Stablecoin plans.
Firstly, on Monday, September 8, the Lion Group trading platform established in Singapore announced that the Solana (SOL) and Sui (SUI) will convert holdings into hype-tokens. The Nasdaq-Genten company that specializes in alternative investments, stated that Hype offers better value creation in the long term than Solana and Sui. They also called the Token ‘the most compelling chance’ in Defi.
Lion Group stated that it will convert his solo and sui positions into the hype over time and buy it at times when the token is down. In particular, the shift from Lion Group to Hyperliquid signals the institutional legitimacy that the Token has acquired, which shows that it is now ‘safe’ to invest. It also follows the decision of the asset manager Bitgo to launch Hyperemv Custodial Solutions in the United States.
Hyperliquid to launch USDH Stablecoin
Another important development that Hyperliquid stimulated to his ATH is the last vote of the board, which proposed the launch of the USDH. According to the company, the Hyperliquid -based Stablecoin is supposed to launch as part of the next major upgrade of the protocol.
The upgrade, announced on 5 September, will reduce the costs for certain trading couples by 80% and reduce discounts. According to the DEX, this step would stimulate liquidity on high -frequency trading Dex.
