In This Article
- HYPE Price Spikes As Heavyweights Join The Race For Hyperliquid Stablecoin: Who Will Win?
- Frax and Agora Proposals to Hyperliquid Share Similar Focus to Paxos: "Give Everything Back to the Community"
- Hyperliquid is KILLING the Competition: HYPE Price $100+ Prediction
- Missed HYPE? Don't Miss New Bitcoin Layer 2 as HYPER Closes in on $15M Funding
Stablecoin issuers Paxos, Frax Finance, and Agora, along with a new team called Native Markets, are all jockeying to win the bid to issue Hyperliquid’s upcoming USDH stablecoin, according to social media posts from the stablecoin issuers. HYPE price has surged +7% on the news that Hyperliquid is entering the stablecoin space.
In its announcement, Hyperliquid stated that it aims to launch a compliant USD stablecoin that is “Hyperliquid-first and Hyperliquid-aligned.” The company has reserved the ticker symbol USDH for this purpose. Hyperliquid has invited teams to submit proposals, and the winning team, selected through a validator vote, will receive approval to purchase the ticker and issue the token.
https://twitter.com/Paxos/status/1964422295176564937
HYPE Price Spikes As Heavyweights Join The Race For Hyperliquid Stablecoin: Who Will Win?
Hyperliquid might be about to change the stablecoin game for good by introducing its own native USD-backed token. The market appears to agree with the industry’s leading issuers, all of whom have submitted proposals to collaborate with Hyperliquid in developing its stablecoin.
Paxos, Frax, and Agora are all industry leaders in the stablecoin space. Paxos has over $2.6 billion in stablecoin assets on the market, including PayPal’s PYUSD token and its own PAX Gold (PAXG), a stablecoin backed 1:1 with physical gold.
Frax Finance has issued nearly $1Bn in stablecoin and wrapped digital asset tokens, while Agora is behind the AUSD stablecoin that has over $200 million in circulation.
The bid from Paxos said its recently formed Paxos Labs team would handle USDH. Paxos Labs was formed in June 2025 to accelerate stablecoin adoption in decentralized venues and has since acquired the team behind the loopedHYPE token as part of the effort.
In its USDH bid, Paxos Labs offered MiCA and GENIUS Act compliance, native deployment on both HyperEVM and HyperCore, and a significant revenue share. 95% of interest went towards HYPE buybacks, redistributing the tokens to “ecosystem initiatives, partners, and users.”
“Additionally, we plan to add support for HYPE as an asset within Paxos’s brokerage infrastructure, which powers crypto trading for platforms such as PayPal, Venmo, MercadoLibre, Nubank, Interactive Brokers, and many others,” Paxos Labs wrote in its bid.
Paxos has launched stablecoins for PayPal and Binance, though it reached a $48.5 million settlement with a New York regulator over the launch of the latter token. The settlement surrounding Binance’s bUSD stablecoin led to it ceasing operations.
DISCOVER: 20+ Next Crypto to Explode in 2026
Frax and Agora Proposals to Hyperliquid Share Similar Focus to Paxos: “Give Everything Back to the Community”
Hyper-performant chains deserve high-performance stablecoins. That's why we submitted a proposal to issue @HyperliquidX's stablecoin $USDH natively.
100% of the underlying yield to the HL community to keep building.
When you build the best product, everyone wins.
Hyperliquid. pic.twitter.com/JIVSQ5Ijuk
— Frax Finance ¤⛓️¤ (@fraxfinance) September 6, 2025
In its own proposal, Frax said it will “give everything back to the community”. USDH would be backed 1:1 by frxUSD, built to comply with the GENIUS standard, and backed by US Treasuries via leading institutions such as BlackRock and Superstate.
Via its account layer ‘FraxNet’, 100% of the underlying Treasury yield would be forwarded programmatically on-chain to Hyperliquid users with zero Frax take rate, essentially rewarding Hyperliquid stakers with Frax’s treasury yield.
Agora had a similar proposal, offering “Institutional Grade Infrastructure built for Global Scale” as $49 trillion custodian State Street and $130Bn asset manager VanEck are responsible for administering Agora’s reserves.
The stablecoin issuer also announced a 100% revenue share, with the maximum revenue accruing to the HyperLiquid ecosystem. Agora also emphasized its stance of having no conflict of interest, offering interoperability infrastructure through Agora, Rain, and LayerZero.
Finally, Agora stated it would bring GENIUS-compliant structure and a licensed issuer with a global footprint and scale to Hyperliquid. The issuer would work closely with EtherFi and consumer-facing applications to expand the reach of USDH via cards and vaults.
Hyperliquid is KILLING the Competition: HYPE Price $100+ Prediction
(SOURCE)
Hyperliquid is known for its decentralized mantra. It shirked venture capital funding and major centralized exchanges as it launched its HYPE token directly onto its own DEX, forgoing the expensive costs of listing on Binance or Coinbase.
Its decentralized perpetuals exchange has changed the game since its launch in 2024, blowing away the competition regarding trade volume and overall usage. Most pairs on the exchange use Circle’s USDC stablecoin, with Hyperliquid holding just over $5.4 billion in USDC deposits on the platform, around 7.5% of that stablecoin’s circulating supply, according to DeFiLlama data.
With the success of its platform and the announcement of a native stablecoin, the HYPE price has rocketed. HYPE is up more than +7% in the past 24 hours and is currently trading at $50.40.
Hyperliquid’s native token is just 1% away from its all-time high of $50.99, which was reached on August 27, 2025. HYPE is now the 16th largest digital asset by market cap, per CoinGecko.
Examining the HYPE price using the Elliot Wave technical indicator reveals that $51.15 is a key level to watch. Once this level is broken, any deep correction scenario is off the table.
If $51.15 is cleared cleanly on a 4-hour timeframe, HYPE will be in price discovery. Favourable market conditions going into Q4 will likely lead to a run towards triple digits, with $100+ an entirely realistic target before 2025 comes to a close.
(SOURCE)
Missed HYPE? Don’t Miss New Bitcoin Layer 2 as HYPER Closes in on $15M Funding
Bitcoin Hyper is heating up as the first real Layer 2 for Bitcoin, and the hype is out of control. The presale already pulled in over $14.4m, and momentum is going strong, leading many to call for $20m as the next funding target for HYPER.
The community is incredibly bullish on Bitcoin Hyper’s slick presentation, blending meme coin energy with Bitcoin’s core DNA, perfect for meme chasers and hardcore BTC maxis alike. By utilizing the Solana Virtual Machine, transactions are near instantaneous, costing next to nothing, making scaling near-unlimited.
The trustless bridge enables holders to transfer Bitcoin 1:1 onto the HYPER Layer 2, providing them with fresh upside without leaving their BTC behind. Currently, HYPER is priced at just $0.012875, with its built-in staking offering an impressive 76% APY.
With Bitcoin’s security, Solana’s speed, and staking rewards that high, it is no wonder that HYPER has gained over $14 million in funding. Bitcoin Hyper is bringing DeFi, GameFi, NFTs, AI, and much more to Bitcoin, opening its investors up to a whole new world of yield-bearing possibilities.
For the latest updates on all things HYPER, join the community on Telegram and X.
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