Hyperliquid, a leading decentralized perpetuals exchange, has executed a significant infrastructure upgrade by enabling direct native USDC deposits between its HyperCore and HyperEVM layers. This development effectively deprecates the platform's previous reliance on the Arbitrum bridge for USDC transfers, aiming to streamline the user deposit process, reduce costs, and enhance security.
The integration allows users to deposit USDC directly to HyperCore without the intermediary bridge step. According to the team, "Users can deposit and withdraw from both the Arbitrum bridge and HyperEVM," with a gradual rollout planned to ensure safety. The upgrade also supports one-click deposits from CCTP-enabled chains, simplifying minting operations on HyperEVM. Hyperliquid clarified that while transfers from HyperCore to HyperEVM could fail if HyperEVM balances are insufficient, user funds remain secure in HyperCore.
In a parallel development, Hyperliquid has launched a new leveraged trading feature for its $STABLE token. Traders can now take long or short positions with up to 3x leverage, a move responding to community demand for more flexible stablecoin trading tools. The platform emphasized that all leveraged trades incorporate integrated risk management measures to maintain a safe trading environment.
Meanwhile, the platform's native token, $HYPE, faces supply-side pressure. Analyst Tom Tucker noted that approximately $2.2 million worth of $HYPE was moved from team wallets ahead of the next scheduled unlock of 10 million tokens. This activity has influenced market sentiment, with the price dipping and funding rates cooling. While the recent Sonnet merger and ongoing buybacks provide some demand support, current token emissions are seen as outweighing these factors, making the upcoming unlocks a key determinant of $HYPE's near-term market trajectory.
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