Hyperliquid’s native HYPE token has achieved a new all-time high, driven by anticipation surrounding the upcoming voting on USDH issuers. As of September 12th, CoinMarketCap reports that the token reached a high of $57.34, marking a significant increase of nearly 22% compared to last week. The current price sits at $56.47, reflecting a dynamic market with a 24-hour trading volume exceeding $585 million and a market cap of $18.86 billion. 2024 saw the launch of Hyperliquid’s decentralized exchange platform, which distributed HYPE tokens to early users and traders as a means of decentralizing ownership and rewarding active participation. An anonymous cryptocurrency analyst ALTF4 highlights that this surge is fueled by both USDH hype and increased whale accumulations, with price reaching new highs after breaking above $50. 2025 will see the voting process for USDH issuers commence on September 14th. Hyperliquid’s USDH issuance proposal promises to determine who will be in charge of issuing the stablecoin, pegged to the US dollar, which is integral to Hyperliquid’s ecosystem. Native Markets currently holds a leading position based on strong support from validators, while Nansen x HypurrCo, another influential entity holding a considerable amount of HYPE, is expected to back Native Markets during the voting process. 2025 has seen significant developments and anticipation surrounding the USDH issuance process