- Circle confirmed native USDC and CCTP V2 integration on Hyperliquid, supporting faster cross-chain USDC transfers.
- Hyperliquid captured 70% of USDC on Arbitrum, with AUM rising from under $4B to $5.5B.
- HYPE token traded at $43.97, holding above the 50-day EMA and showing neutral RSI near 52.
Circle confirmed the upcoming launch of native USDC and CCTP V2 bridging protocol on the Hyperliquid blockchain.
Hyperliquid is a high-performance blockchain that combines a native order book DEX (HyperCore) with a smart contract platform (HyperEVM).
The integration will allow native USDC to be deployed on HyperEVM for direct use in trading and across all of its applications. Native USDC, issued by Circle’s regulated affiliates, maintains a 1:1 redemption with U.S. dollars and gives institutional users access to Circle Mint for compliant on- and off-ramps.
CCTP V2 to help seamless USDC transfers
Alongside native USDC, the launch of CCTP V2 will bring cross-chain transfer functionality. This will let you move USDC between Hyperliquid and other blockchains with full capital efficiency, eliminating the risks of using wrapped or synthetic tokens.
Key use cases for this integration include using native USDC as both collateral and a quote asset for perpetuals and spot trading on Hyperliquid’s high-speed DEX.
Hyperliquid Captures 70% of USDC on Arbitrum
The Hyperliquid ecosystem has grown rapidly, capturing as much as 70% of all USDC on the Arbitrum network and increasing its assets under management from under $4 billion to $5.5 billion in just one month.
Circle has not yet released the official contract addresses for USDC on Hyperliquid but confirmed they will be announced closer to the deployment.
Hyperliquid’s unique architecture
Hyperliquid’s architecture integrates HyperCore (its high‑speed native trading layer) and HyperEVM (an Ethereum-compatible smart contract layer) under a unified HyperBFT consensus. This design ensures a shared state between both, giving smart contracts instant access to live order-book data.
HyperCore can support up to ~200,000 orders per second with block times of ~0.07 seconds.
On this architecture, CCTP V2 will be implemented via smart contracts on HyperEVM. This allows for a direct “burn-and-mint” flow for cross-chain USDC transfers that does not rely on third-party bridge providers.
Related: Brazil Bank Hack: ZachXBT Helps Freeze $5M in Crypto, Says Circle Refused to Cooperate
HYPE Token Price Reaction and Analysis
Following the announcement, the HYPE/USDT pair showed a steady upward move, trading at $43.97, up 4.07% on the day. The price is holding above its 50-day EMA at $40.93, a sign of sustained bullish momentum.
Over the past few months, HYPE recovered from its March lows and climbed consistently, breaking key resistance levels before stabilizing near current levels.
Trading volume reached 186.9K, reflecting renewed market activity around the token. The Relative Strength Index (RSI) at 52.53 remains neutral, indicating balanced market conditions without signs of overbought pressure. However, the price’s close alignment with the EMA suggests continued support from buyers.
The consolidation phase visible in July indicates a period of market indecision, but the recent uptick hints at a potential breakout if liquidity inflows persist. Moreover, the broader ecosystem growth—capturing 70% of USDC on Arbitrum and rising AUM—adds fundamental support to HYPE’s price stability.
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