'Hyperliquid-Aligned' USDH Native Markets Stablecoin Goes Live as HYPE Falls

Hyperliquid’s highly anticipated USDH stablecoin has gone live, after the newly formed firm Native Markets won the ticker bid last week. Native Markets claimed that over $15 million worth of the stablecoin was pre-minted in the 24 hours before it went live on Wednesday. Earlier this month, Hyperliquid opened proposals to take over the USDH ticker on the network. As a result, a stream of crypto companies put their hats in the ring, including the likes of Paxos, Agora, and Ethena—the last of those with backin ...