Hyperliquid's USDH stablecoin has officially launched, following a competitive bidding process won by Native Markets. In the lead-up to the launch, over $15 million worth of USDH was pre-minted, signaling strong initial demand. The project aims to enhance the Hyperliquid ecosystem by donating half of USDH's revenues to the Hyperliquid Assistance Fund. Backed by cash and U.S. Treasury equivalents, the stablecoin is designed with compliance in mind, targeting regulations in both the U.S. and Europe. This launch occurs amidst rising competition from the BNB Chain-based decentralized exchange Aster, which has seen significant trading volume growth, positioning it as a notable rival to Hyperliquid. As the crypto community anticipates USDH's impact, concerns surrounding HYPE, Hyperliquid's native token, have emerged, with predictors forecasting a potential price drop amidst market fluctuations.

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