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BTC 
HYPE Key Highlights
- Platform launches collateral-based lending function
- Compliant U.S. market and growing ecosystem
- HYPE token hit a record high of US$92.56 on September 18.
- The platform launched a manual stablecoin lending function backed by HYPE or BTC.
- Platform data shows, Total loans issued on the first day were approximately 9 million.
- HYPE tokens provide a to-value ratio (LTV) of 65%, which is higher than Bitcoin's 50%.
- Payward plans to provide compliant Hyperliquid perpetual contracts to eligible U.S. traders, But regulatory approval is required
Hyperliquid's native token prices have soared to unprecedented levels as the platform introduces a lending mechanism that allows users to use HYPE and Bitcoin as collateral to obtain stablecoin loans.
Hyperliquid (HYPE) Price Trend
On September 18, HYPE hit a high of $92.56, surpassing the previous high of $89.57 set earlier this month. The asset then traded around $91.20, gaining 10.5% in 24 hours. Throughout the day, HYPE prices fluctuated between approximately US$81.70 and US$92.56, and trading interest increased significantly. HYPE's total market value hovers around $20.3 billion. Daily trading volume is approximately US$1.72 billion. In the past month, HYPE achieved a value-added value of 57.1%.
The rise is in line with Bitcoin's rise, which traded close to $80,981 after experiencing a one-day gain of about 5.6%.
Platform launches collateral-based lending function
9月18日，Hyperliquid 通过 HyperCore 推出了其手动借贷服务。该系统允许参与者存入 HYPE 或比特币，并以这些资产为抵押获取 USDC 或 USDT 贷款。
最新消息：⚡️ Hyperliquid 上线了手动借贷功能，用户可以使用 HYPE 和 BTC 作为抵押品借出 USDC 或 USDT。
— CoinMarketCap (@CoinMarketCap), 2026年9月18日
HYPE 代币支持65%的贷款价值比。根据这一结构，基于预言机定价，价值1,000美元的 HYPE 抵押品最多可借出650美元。比特币的阈值更为保守，为50%。因此，相同价值的1,000美元抵押品最多仅允许借出500美元。
根据 Hyperliquid 在 X 平台上的公告，在运营初始的24小时内，约有2.69亿美元的资产被借出。借出稳定币的用户需支付利息，而提供 USDC 和 USDT 的用户则会根据平台利用率产生相应的收益。协议将借款人利息支付的10%保留为准备金，用于应对潜在的清算情况。
对于 HYPE 抵押品，Hyperliquid 设定的部分清算点为82.5%，而比特币则为75%。资产价值下跌、提款或累积的利息都可能导致账户进入清算区域。
合规的美国市场与不断增长的生态系统
Other catalysts have also attracted market attention to Hyperliquid. On September 16, Payward, the entity behind Kraken, revealed plans to provide a regulated Hyperliquid trading venue to qualified U.S. participants through Bitnomial.
Payward @HyperliquidX
We are building a licensed Hyperliquid HIP-3* market for U.S. customers.
