Hyperliquid Launches USDC and USDT Manual Borrows Against HYPE & Bitcoin

• Hyperliquid announces launch of manual borrows feature on Friday.

• Users can borrow Circle's USDC and Tether (USDT) against HYPE and Bitcoin as collateral.

• HYPE price jumps 13% top hit a new ATH of $90.92.

HYPE price hits new all-time high as Hyperliquid launched manual borrows feature on Friday. Users can use HYPE and Bitcoin collateral to borrow quote assets such as USDC and USDT.

Hyperliquid Enables Users to Take USDC and USDT Loans

Manual borrows go live on Hyperliquid on September 18. It allows users to borrow quote assets Circle's USDC and Tether (USDT) against supplied collateral HYPE and Bitcoin.

Hyperliquid added that portfolio margin and manual borrows use the same underlying HyperCore infrastructure. As of today, the total assets borrowed have reached $269 million.

The borrowed quote assets USDC and USDT pay interest, and supplied quote assets earn interest, with rates set by utilization. This expands DeFi lending options on Hyperliquid's onchain trading ecosystem.

"Manual borrowing is supported for Manual/Standard and Unified Account users. For portfolio margin (PM) accounts, borrowing is automated and the manual borrow action is disabled," the platform said.

Notably, Hyperliquid pointed out that HYPE has loan-to-value (LTV) of 65% and BTC has LTV of 50%. The partial liquidation threshold for is 82.5% for HYPE and 75% for BTC.