Circle усиливает присутствие в экосистеме Hyperliquid с интеграцией USDC и новыми возможностями Translation: Circle strengthens its presence in the Hyperliquid ecosystem with USDC integration and new possibilities.

A blockchain researcher going by the name MLM has reported on test transactions of the USDC stablecoin within the mainnet of the HyperEVM decentralized exchange, Hyperliquid.

The expert believes this suggests the potential introduction of a native «stablecoin» in the coming days or weeks. Meanwhile, the wallet associated with Circle has acquired HYPE tokens worth $4.6 million.

This development follows the announcement by co-founder and CEO of the stablecoin issuer, Jeremy Allaire, regarding a «significant entry» into the exchange’s ecosystem.

«We aim to become a key player and contribute to it. […] The ultra-fast native USDC with deep and virtually instant cross-chain interactions will be well-received,» he stated.

According to a blog post, in addition to the stablecoin, Circle is integrating the CCTP V2 protocol into the Hyperliquid blockchain, which facilitates transactions of the coin between networks.

The company has ramped up efforts to expand its presence in the ecosystem of the largest DEX in the perpetual futures segment, following the exchange community’s decision to issue its own stablecoin, USDH. The project has attracted the interest of several prominent crypto firms.

At the time of writing, the Polymarket prediction market estimates the chances of validators voting for the proposal from Native Market at 96.8%. The proposal from Paxos stands at 1.8%. The likelihood of Ethena and Frax Finance proposals receiving approval is less than 1%.

According to DeFi Llama, the total volume of stablecoins on Hyperliquid over the last 24 hours reached $6.1 billion, with USDC dominating at a 95.6% share, amounting to $5.85 billion.

The market cap of Circle’s coin is just over $73.1 billion, with the exchange accounting for about 8% of the total supply.

As a reminder, in August, Hyperliquid’s revenue reached a record $106 million, with trading volume in perpetual contracts nearing $400 billion and market share growing to 70%.