HYPE hit a record $94.46, and opening a market takes a $46 million stake
Borrowing against HYPE opened on September 18. The week's high was $94.46. The stake to list a market is 500,000 HYPE.
HYPE hit a record $94.46 on September 19.[1] It traded at $92.31, up 18% from a week earlier.[2]
On September 18, Hyperliquid made manual borrowing live: USDC and USDT, taken after posting HYPE or Bitcoin as collateral.[3] The collateral is your bag, and it stays posted.
HYPE set an all-time high of $92.56 on that same day.[4]
HIP-3 requires any entity deploying a market to stake 500,000 HYPE and keep that stake maintained.[5] At $92.31 the stake is about $46 million.[6]
The stake must be maintained; the record high is a print, and prints are not maintained.
Who gains, who loses
Receipts
On September 19, 2026, Hyperliquid hit a record high of $94.46.
“On the same day, the HYPE price hit a record high of $94.46, according to Coinbase.”
As of September 19, 2026, Hyperliquid was trading at $92.31, up 18% from $78.48 one week earlier.
“As of September 19, 2026, Hyperliquid (CRYPTO:HYPE) is trading at $92.31, marking an impressive 18% increase from $78.48 just a week prior.”
On September 18, 2026, Hyperliquid introduced manual USDC and USDT borrowing against HYPE and Bitcoin collateral.
“Hyperliquid’s official documentation states that manual borrowing went live on Sep. 18, allowing users to borrow USDC and USDT after supplying HYPE or Bitcoin as collateral.”
On September 18, 2026, HYPE reached a new all-time high of $92.56.
“HYPE has risen 10.5% to $91.20 after Hyperliquid introduced manual USDC and USDT borrowing against HYPE and Bitcoin collateral, with the token setting a new all-time high of $92.56.”
Hyperliquid's HIP-3 documentation says any entity deploying a market must stake 500,000 HYPE tokens and keep that stake maintained.
“According to HIP-3, any entity deploying a market must stake 500,000 HYPE tokens and maintain that stake, with validators able to revoke it if the market is poorly managed.”
At $92.31 per HYPE, a 500,000-HYPE stake was worth about $46 million.
“At the current HYPE price of $92.31, this required stake amounts to about $46 million, which Payward must secure before listing a single contract.”
Cabal Desk is reporting, written with AI under human oversight. Every bracketed number opens its receipt: the source, the quoted span, the hash. Headlines and characterisations are commentary; the sourced facts are the receipts. Not investment advice. Corrections log. Editorial & legal.