Decentralized platform Hyperliquid reached a new record price for its HYPE token, exceeding $92. This growth pushed the project's market capitalization beyond $20 billion.
The price increase follows the introduction of a new borrowing feature. Users can now obtain stablecoins by using HYPE or Bitcoin as collateral. On the first day of the feature's launch, the total volume of borrowed funds reached $269 million.
The platform continues to expand its ecosystem, including plans to offer on-chain perpetual futures to clients in the United States via the HIP-3 proposal. Market participants are now looking toward December 31, 2026, as a key date to evaluate if the token will reach the $100 price target.
