Hyperliquid has reached a new all-time high of $55.04, experiencing a 22% increase over the past week following the opening of proposals for teams to launch a stablecoin using the USDH ticker. This surge was fueled by submissions from established stablecoin teams such as Paxos, Frax Finance, and Agora. Validator voting on these proposals begins soon, and a total of 21 proposals have been submitted. Hyperliquid, operating on its dedicated layer-1 network, reported a recent peak market capitalization of $14.5 billion and is now the 14th largest cryptocurrency. The introduction of a Hyperliquid-aligned stablecoin is expected to bolster liquidity within its platform, potentially positioning it against other major stablecoins like USDC. Despite the competition, analysts believe Hyperliquid's focus on a native stablecoin may redefine its economic integration and strengthen its market presence.

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