Hyperliquid Just Turned HYPE Into Borrowing Collateral Hyperliquid added manual borrowing, letting users post assets including $HYPE and $BTC as collateral and borrow stablecoins such as USDC and USDT. The launch landed just as HYPE pushed above $90 to a new all-time high. The interesting bit isn’t the new ATH. It’s what happens to HYPE when it becomes productive collateral. A holder no longer necessarily has to sell HYPE to free up dollar liquidity. They can keep the exposure, lock the token as collateral and borrow stablecoins against it instead. That creates another source of demand for the token that has little to do with directional trading. But there’s a second side to that trade. Once an asset becomes widely usable as collateral, its price starts affecting more than portfolios. A sharp HYPE drawdown can now push leveraged borrowers toward liquidation, turning falling collateral values into forced selling. That’s how a token gradually stops being just something people trade and starts becoming part of the plumbing underneath the market. #Macro Insights# #Altcoin Season#