Circle，USDC和Hyproliquid：Defi互操作性的新时代？

探索圈子，USDC和超流动生态系统中的最新发展，包括本地USDC集成及其对DEFI的影响。

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

Circle，USDC和Hyproliquid：Defi互操作性的新时代？

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和超液体之间的动力学正在转移，标志着分散融资中的关键力矩。本地USDC在超液体上的整合有望增强流动性和互操作性。让我们研究最新的发展。

USDC Finds a Native Home on Hyperliquid

USDC在Hyplipiid上找到了当地的家

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宣布在Hyperliquid的本地链上推出了本机USDC版本。此举标志着与超流利生态系统的更深层次接触，增加了现有的桥接USDC并扩大了Circle的影响力。 Circle的联合创始人Jeremy Allaire强调，这包括HypereVM版本和CCTP V2设施，用于无缝跨链转移。 Circle还通过获取炒作令牌正在成为利益相关者。

Why This Matters

为什么这很重要

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.

该集成解决了早期对USDC可能会使超级流动的担忧，而不是USDH。现在，两个Stablecoins都将在永久期货Dex上共存，为用户提供更多选项。本机USDC版本旨在简化HyperCore，Hyperliquid的交易中心，并启用基于HypereVM的应用程序，以立即使用USDC。

Circle's Strategic Play

Circle的战略发挥

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.

通过发行本地资产，Circle巩固了其在超流动液中的地位，从交易活动和Strate Hype Swikens中获得了大量费用。直到最近，USDT和USDC的流动性和影响力意味着它们还没有遵守存放要求。 Circle持有其在Hyproliquid上的USDC供应量的8.20％，从Bridging和USDC的使用率达到1.09亿美元，直到2025年9月。

USDC as a Barometer of Hyperliquid Activity

USDC作为超流动活性的晴雨表

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的存款提供了对超流动性活动的见解，充当鲸鱼活动和流动性趋势的代理。虽然有些鲸鱼存入高达4900万美元，但常规交易者存入较小的金额。 9月的增加了USDC的流入，平均存款约为18,150美元。大部分存款不到$ 400。

CCTP V2: Enhancing Cross-Chain Capabilities

CCTP V2：增强跨链功能

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增强了将本机USDC牢固地转移到高流动性和十几个区块链之间的能力。这样可以确保资本效率并降低与包装令牌相关的摩擦。开发人员可以构建专注于入职，掉期和财政部重新平衡的应用程序，并具有一致的用户体验。

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

比赛中的一句话：Pumpfun和转移的加密景观

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这样的Memecoin平台的兴起在24小时协议收入方面短暂地掩盖了超流动性。这突出了加密货币的投机性质和零售资本的影响，其中模因硬币和娱乐驱动的项目可以迅速引起人们的注意。 Kart Rumble（$ rbt）等项目正在混合游戏，文化和AI，说明了游戏，利润和参与之间的模糊界限。

Final Thoughts

最后的想法

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和超流动性围绕更相互联系和有效的自生态系统的发展。虽然加密空间可能是不可预测的（您好，Memecoins！），但这些集成为未来增长奠定了坚实的基础。事情变化有多快，对吗？保持眼睛剥皮，加密蛋糕闭上！