Coinbase activates AQAv2 with USDC alignment on Hyperliquid, becoming the official treasury deployer under the Hyperliquid USDC Upgrade, while Circle manages technical cross-chain infrastructure. USDH migration, staking commitments, and liquidity unification strengthen ecosystem structure, though HYPE price remains bearish unless key resistance is reclaimed above $41.
Hyperliquid USDC Upgrade and AQAv2 Treasury Transition
Coinbase becomes the official USDC treasury deployer on Hyperliquid as part of the AQAv2 activation plan, strengthening its role in protocol-level liquidity coordination.
Circle will act as the technical deployer, overseeing CCTP and cross-chain infrastructure for the Hyperliquid USDC Upgrade.
Both Coinbase and Circle have committed to staking HYPE to support the Hyperliquid USDC Upgrade, reinforcing deeper ecosystem alignment.
In a key transition step, Coinbase also acquires rights to Native Markets’ USDH brand assets as USDH shifts toward full integration with USDC under the Hyperliquid USDC Upgrade.
The move positions USDC as the primary aligned stablecoin within the ecosystem, with Coinbase sharing the majority of reserve yield revenue directly with the protocol.
This reduces fragmentation and supports HIP-4 plans where USDC is expected to serve as the canonical quote asset in the Hyperliquid USDC Upgrade framework.
Also Read: Hyperliquid ETF Debuts on Nasdaq With $1.2M First-Day Inflows
USDH Migration, Grants, and Ecosystem Transition
Consistent user and developer feedback pointed to the inefficiency caused by the fragmentation of liquidity, and AQAv2 addresses this problem by uniting the process through one standardized form of asset.
USDH from Native Markets, which pioneered yield-sharing functionality, is built into AQAv2 and will be continued into the next iteration.
The Hyper Foundation will distribute grants to eligible HIP-3 deployers, HIP-1 deployers, and USDH integrators in order to assist their migration over the next few months.
The USDH marketplaces will shut down slowly over time, although the token remains entirely collateralized, with zero-fee swaps to USDC and fiat currency available during the transition.
HYPE Bullish Reclaim Scenario And Potential Target
After this update, HYPE is up 5.28%, deviating significantly from the monthly $45 supply zone, indicating strong institutional selling pressure.
The price action is currently reversing its previous uptrend pattern by forming lower highs, pointing to a switch to a bearish trading strategy. Price below the $41 level gives sellers control over the trend.
According to the Crypto Anysalt Chase, currently, the price is fluctuating within the $39 bottom and the $40.8 top per day’s FVG range.
The buyers have held their ground at the $39 level, but the uptrend momentum remains weak. In the event of a breakdown below the $39 level, the next level of support lies at the $37.5 mark.
In case the price goes up to exceed the price level of $40.8 and exceeds $41, then there is a possibility that the price will rise in a short time frame to between $42-$44. However, such an eventuality will most likely end up being a corrective pullback within a supply region.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Hyperliquid ETF Filing by Grayscale Adds Staking Feature for HYPE Investors
