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Hyperliquid’s native token HYPE surged to a new all-time high of $55.04 amid growing excitement over proposals for a native USDH stablecoin. Established players like Paxos and Frax Finance have submitted bids to launch the Hyperliquid-aligned stablecoin. Validator voting begins Sunday, marking a pivotal moment for the decentralized exchange platform.
- 21 proposals submitted for USDH stablecoin including major players Paxos and Frax Finance, with validator voting starting Sunday
- Hyperliquid token surged 23.4% weekly to $55.04 ATH, reaching $14.5B market cap as 14th largest cryptocurrency
- Controversy emerged as existing protocol Hyperstable alleged unfair advantage for some bidders, though others cite regulatory changes from GENIUS Act
📎 Related coverage from: decrypt.co
Other Tags: Altcoins, Hype, Tether (USDT), USDC, Bitget, Bitget Wallet, DeFi, DEX, Frax Finance, Hyperliquid, Paxos