HYPE Jumps 17% After Hyperliquid Grants Coinbase Rights to USDH Assets

▤ Summary

Hyperliquid's HYPE token surged about 17% to $46.93 after Coinbase committed to staking HYPE to activate AQAv2, reversing a recent downtrend. Hyperliquid said Native Markets granted Coinbase the rights to purchase USDH brand assets and that the protocol will consolidate liquidity by shifting canonical markets to USDC as the quote asset. The Hyper Foundation will provide grants to eligible HIP-3 and HIP-1 deployers and builders to support migration from USDH to USDC over the next few months, and USDH remains fully backed with feeless conversions available during the transition. Social reaction was largely positive as HYPE's market cap climbed amid the announced alignment with Coinbase and Circle.

▦ Linked Companies

Circle

$1B+

Hyperfoundation

up to $1M