Circle，USDC和Hyproliquid：Defi互操作性的新時代？

探索圈子，USDC和超流動生態系統中的最新發展，包括本地USDC集成及其對DEFI的影響。

Circle, USDC, and Hyperliquid: A New Era of DeFi Interoperability?

Circle，USDC和Hyproliquid：Defi互操作性的新時代？

The dynamics between Circle, USDC, and Hyperliquid are shifting, marking a pivotal moment in decentralized finance. The integration of native USDC on Hyperliquid promises enhanced liquidity and interoperability. Let's dive into the latest developments.

Circle，USDC和超液體之間的動力學正在轉移，標誌著分散融資中的關鍵力矩。本地USDC在超液體上的整合有望增強流動性和互操作性。讓我們研究最新的發展。

USDC Finds a Native Home on Hyperliquid

USDC在Hyplipiid上找到了當地的家

In September 2025, Circle announced the launch of a native USDC version on Hyperliquid's native chain. This move signals a deeper engagement with the Hyperliquid ecosystem, adding to the existing bridged USDC and expanding Circle's influence. Jeremy Allaire, co-founder of Circle, highlighted that this includes a HyperEVM version and a CCTP V2 facility for seamless cross-chain transfers. Circle is also becoming a stakeholder by acquiring HYPE tokens.

2025年9月，Circle宣佈在Hyperliquid的本地鏈上推出了本機USDC版本。此舉標誌著與超流利生態系統的更深層次接觸，增加了現有的橋接USDC並擴大了Circle的影響力。 Circle的聯合創始人Jeremy Allaire強調，這包括HypereVM版本和CCTP V2設施，用於無縫跨鏈轉移。 Circle還通過獲取炒作令牌正在成為利益相關者。

Why This Matters

為什麼這很重要

The integration addresses earlier concerns about USDC potentially leaving Hyperliquid in favor of USDH. Now, both stablecoins will coexist on the perpetual futures DEX, offering users more options. The native USDC version aims to streamline deposits into HyperCore, Hyperliquid's trading hub, and enable applications built on HyperEVM to utilize USDC immediately.

該集成解決了早期對USDC可能會使超級流動的擔憂，而不是USDH。現在，兩個Stablecoins都將在永久期貨Dex上共存，為用戶提供更多選項。本機USDC版本旨在簡化HyperCore，Hyperliquid的交易中心，並啟用基於HypereVM的應用程序，以立即使用USDC。

Circle's Strategic Play

Circle的戰略發揮

By issuing a native asset, Circle solidifies its position within Hyperliquid, potentially earning a significant share of fees from trading activities and staking HYPE tokens. Until recently, the liquidity and influence of USDT and USDC meant they weren't subject to staking requirements. Circle held 8.20% of its USDC supply on Hyperliquid, earning up to $109M from bridging and USDC usage until September 2025.

通過發行本地資產，Circle鞏固了其在超流動液中的地位，從交易活動和Strate Hype Swikens中獲得了大量費用。直到最近，USDT和USDC的流動性和影響力意味著它們還沒有遵守存放要求。 Circle持有其在Hyproliquid上的USDC供應量的8.20％，從Bridging和USDC的使用率達到1.09億美元，直到2025年9月。

USDC as a Barometer of Hyperliquid Activity

USDC作為超流動活性的晴雨表

USDC deposits offer insights into Hyperliquid's activity, acting as a proxy for whale activity and liquidity trends. While some whales deposit up to $49M, regular traders deposit smaller amounts. September saw an increase in USDC inflows, with the average deposit around $18,150. The bulk of deposits are under $400.

USDC的存款提供了對超流動性活動的見解，充當鯨魚活動和流動性趨勢的代理。雖然有些鯨魚存入高達4900萬美元，但常規交易者存入較小的金額。 9月的增加了USDC的流入，平均存款約為18,150美元。大部分存款不到$ 400。

CCTP V2: Enhancing Cross-Chain Capabilities

CCTP V2：增強跨鏈功能

Circle's CCTP V2 enhances the ability to securely transfer native USDC between Hyperliquid and over a dozen blockchains. This ensures capital efficiency and reduces friction associated with wrapped tokens. Developers can build applications focused on onboarding, swaps, and treasury rebalancing with a consistent user experience.

Circle的CCTP V2增強了將本機USDC牢固地轉移到高流動性和十幾個區塊鏈之間的能力。這樣可以確保資本效率並降低與包裝令牌相關的摩擦。開發人員可以構建專注於入職，掉期和財政部重新平衡的應用程序，並具有一致的用戶體驗。

A Word on the Competition: PumpFun and the Shifting Crypto Landscape

比賽中的一句話：Pumpfun和轉移的加密景觀

Interestingly, the rise of memecoin platforms like PumpFun briefly overshadowed Hyperliquid in terms of 24-hour protocol revenue. This highlights the speculative nature of crypto and the influence of retail capital, where meme coins and entertainment-driven projects can quickly capture attention. Projects like Kart Rumble ($RBT) are blending gaming, culture, and AI, illustrating the blurring lines between play, profit, and participation.

有趣的是，像Pumpfun這樣的Memecoin平台的興起在24小時協議收入方面短暫地掩蓋了超流動性。這突出了加密貨幣的投機性質和零售資本的影響，其中模因硬幣和娛樂驅動的項目可以迅速引起人們的注意。 Kart Rumble（$ rbt）等項目正在混合遊戲，文化和AI，說明了遊戲，利潤和參與之間的模糊界限。

Final Thoughts

最後的想法

The developments around Circle, USDC, and Hyperliquid point to a more interconnected and efficient DeFi ecosystem. While the crypto space can be unpredictable (hello, memecoins!), these integrations lay a solid foundation for future growth. It's kinda wild how quickly things change, right? Keep your eyes peeled and your crypto close!

Circle，USDC和超流動性圍繞更相互聯繫和有效的自生態系統的發展。雖然加密空間可能是不可預測的（您好，Memecoins！），但這些集成為未來增長奠定了堅實的基礎。事情變化有多快，對嗎？保持眼睛剝皮，加密蛋糕閉上！