Illustration of HYPE token price rally supported by Coinbase and Circle's USDC integration.
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HYPE token rallies as Coinbase and Circle back stablecoin model

AI:n luoma kuva
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The HYPE token surged after Coinbase and Circle committed to Hyperliquid’s AQAv2 upgrade, aligning USDC with the protocol’s yield-sharing framework.

HYPE rallied after the May 14 announcement, reaching roughly $45. The upgrade positions Coinbase as the official USDC treasury deployer on Hyperliquid while Circle manages technical deployment and cross-chain infrastructure through CCTP. The vast majority of reserve-yield revenue from USDC now flows back to the protocol, following the model first established by Native Markets’ USDH token.

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Initial reactions on X highlight excitement over Coinbase and Circle's commitment to Hyperliquid's AQAv2 upgrade, with users noting significant revenue sharing for $HYPE holders and token price surges.

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Illustration of Hyperliquid token price at $50 driven by HYPE ETF inflows, featuring financial charts and investment flows.
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