Hyperliquid opens native lending as HYPE hits new ATH above $90

Hyperliquid has launched native manual borrowing, extending its trading infrastructure into credit as HYPE climbed to a fresh all-time high above $90.

The Sept. 18 rollout lets users pledge HYPE or Bitcoin as collateral to borrow USDC or USDT directly through HyperCore. Hyperliquid said $269 million in assets were borrowed Friday, giving the new product immediate scale.

The launch comes as Hyperliquid broadens the financial functions available inside its core infrastructure, allowing users to move between trading, collateral and credit without relying on separate lending protocols.

HYPE has risen roughly 15% this week and traded above $90 on Friday, with CryptoSlate's data recording an intraday high of about $91.06. That surpassed the token’s previous record near $89.60 and extended a rally from roughly $77 earlier in the week.

Manual borrowing opens HyperCore’s existing credit engine

The new product exposes lending infrastructure that had largely operated beneath Hyperliquid’s portfolio-margin system.

Founder Jeff Yan said Hyperliquid built borrowing and lending as a separate HyperCore primitive rather than embedding credit directly into margin accounts. Every borrowed asset comes from supplied liquidity, allowing other products to tap the same market while keeping lending risk separate from derivatives exposure.