Hyperliquid’s $5.5 Billion USDH Migration: A Race for Stablecoin Control

Hyperliquid is in the midst of a competition to determine who will control its USDH stablecoin, with major players vying for this lucrative opportunity. The platform recently opened a proposal window for institutions to bid on issuance rights, setting the stage for an exciting showdown. This decision has significant implications for both Hyperliquid’s financial ecosystem and the broader stablecoin market. 5.5 billion USDC reserves are at stake, representing a massive potential shift in the landscape of digital finance.