Hyperliquid’s USDH Stablecoin Goes Live, Kicks Off Action With $2.3M Volume In Early Trading

USDH, developed by Native Markets, is the first dollar-pegged token to make it through Hyperliquid’s validator-driven selection process.

Hyperliquid’s native stablecoin USDH, developed by Native Markets, officially started trading on Wednesday.

Early action looks steady but active, with around $2.3 million exchanged in the USDH/USDC pair since the market opened, according to data on CoinMarketCap. It showed that trading volume has increased by more than 37% since the stablecoin went live.

USDH is the first dollar-pegged token to make it through Hyperliquid’s validator-driven selection process. The token is built on HyperEVM and bridged across Hyperliquid’s stack. Native Markets beat out Paxos, Frax, Agora, and others in the vote earlier this month.

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