In the midst of a choppy market caused by the CLARITY Act's failure to advance and the first rate hike in 3 years this week, Hyperliquid flipped Solana to become the second largest chain in terms of USDC supply, growing 12% on the month and outpacing every other major network (+0.3% Ethereum, -1% Solana, +0.6% Base). Meanwhile, hyperliquid:native is at a new all-time high above $91, up over 11% today. This is all happening as @HyperliquidX builds out the full DeFi primitive stack natively. Manual borrows just went live enabling users to supply HYPE/BTC as collateral to borrow USDC/USDT, using the same HyperCore infra as portfolio margin. $269M has already been borrowed on day one. Combined with vaults, predictions, and spot, the full DeFi stack is now enshrined at the base layer. data: @hl_eco