tldr; Circle is preparing to launch a native version of its stablecoin, USD Coin (USDC), on Hyperliquid’s Layer 1 chain, HyperEVM. Test transactions and a $5 million purchase of Hyperliquid’s HYPE token by a Circle-linked wallet suggest deeper integration into the Hyperliquid ecosystem. This move would add HyperEVM to the 24 networks already supporting USDC. However, Hyperliquid’s plans to introduce its own stablecoin, USDH, could challenge Circle’s dominance, as Hyperliquid currently accounts for 8% of USDC’s circulation.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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The Stablecoin Wars is in full flow… ever since UST.
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tldr; Circle is preparing to launch a native version of its stablecoin, USD Coin (USDC), on Hyperliquid’s Layer 1 chain, HyperEVM. Test transactions and a $5 million purchase of Hyperliquid’s HYPE token by a Circle-linked wallet suggest deeper integration into the Hyperliquid ecosystem. This move would add HyperEVM to the 24 networks already supporting USDC. However, Hyperliquid’s plans to introduce its own stablecoin, USDH, could challenge Circle’s dominance, as Hyperliquid currently accounts for 8% of USDC’s circulation.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
The Stablecoin Wars is in full flow… ever since UST.