when you actually do
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Tezla retweeted
It’s crazy HYPE is almost $100 but everyone on CT sold already so no one is celebrating lmao
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Hyperliquid just took something from Solana that should get people's attention.
$6.73B. !!!!
That’s how much USDC is now sitting on Hyperliquid, putting it just ahead of Solana’s $6.72B.
Only Ethereum has more. And honestly, the flip itself isn’t what I find crazy. It’s what the money is doing there.
This isn’t $6.7B sitting in a vault looking pretty. It’s the fuel behind one of the largest onchain trading machines in crypto.
USDC is collateral.
Collateral becomes liquidity.
Liquidity becomes volume.
Volume produces fees. !!
And now Hyperliquid has another mechanism attached to that pile of dollars.
Under AQAv2, the USDC treasury yield is shared with the protocol, with the resulting payment going to the Assistance Fund, which uses it to buy and burn HYPE.
So think about what just happened.
Solana has $6.72B of USDC.
Hyperliquid has $6.73B of USDC that sits inside an exchange economy designed to turn liquidity into activity, fees, and ultimately HYPE buy pressure.
That distinction is where this gets interesting.
Because Hyperliquid isn’t just accumulating dollars. It’s trying to make the dollars productive. I think I explained this in my previous posts
And while everyone is staring at the HYPE chart trying to figure out whether $70 or $90 comes first…
The network just quietly crossed another threshold. And we won't stop!
#2 in USDC. The weird part?
Hyperliquid didn’t need to become Solana to get here. It built a completely different machine.
And now that machine is starting to attract the kind of capital that makes you wonder how large the machine can actually become.
🚨Breaking: #Hyperliquid has just flipped #Solana to become the #2 chain by $USDC supply... behind only ETH.
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