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Circle-Linked Wallet Buys $4.6 Million in HYPE Tokens Amid USDC Testing

Circle-Linked Wallet Buys $4.6 Million in HYPE Tokens Amid USDC Testing

Circle expands its role in the Hyperliquid ecosystem by investing directly, launching Native USDC and CCTP V2 on HyperEVM, and considering validator participation to strengthen cross-chain interoperability.

ETH
USDC
HYPE

Fact Check
The statement is strongly confirmed by overwhelming evidence. Multiple independent crypto news sources (ForkLog, Cointime, Bitget, Cryptorank, Futunn) corroborate that a wallet associated with Circle purchased 80,000 HYPE tokens for a value of $4.6 million. These sources also consistently report that this purchase happened concurrently with Circle testing its USDC stablecoin on the same network, providing a clear context for the transaction.
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Summary

Circle announced a strategic investment in Hyperliquid, alongside the deployment of Native USDC and CCTP V2 on HyperEVM. The integration will enable direct deposits and interoperability through HyperCore. Circle confirmed it has become a stakeholder in Hyperliquid and is considering becoming a validator. Hyperliquid currently holds nearly $6 billion in USDC, representing more than 8% of Circle’s supply, generating approximately $250 million in annual interest for partners such as Circle and Coinbase. Circle plans incentive programs for HyperEVM builders to stimulate ecosystem growth. Meanwhile, Hyperliquid’s HYPE token has surged to a $14 billion market cap, though recently retraced to $53 after an all-time high of $57. Circle’s stock is trading at $135 per share, up 157% from its IPO price but down 55% from its peak.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a stable value and widely used in cryptocurrency transactions.
  • CCTP V2: Cross-Chain Transfer Protocol V2, an upgrade that enables efficient movement of USDC between Hyperliquid and supported blockchains, enhancing liquidity and capital efficiency.
  • HyperEVM: An Ethereum Virtual Machine (EVM) integrated into Hyperliquid’s layer-1 blockchain, enabling smart contract deployment and interoperability with Ethereum-based applications.