In the fast-paced world of decentralized finance, milestones like this don't come every day. Hyperliquid's native stablecoin, USDH, has just claimed the third-highest 24-hour trading volume among spot assets on Hypercore, marking a significant leap for the platform. This buzz comes straight from a recent tweet by DegenerateNews, highlighting how USDH is gaining traction in the crypto trading scene.

What Happened with USDH?

For those new to the space, Hyperliquid is a leading decentralized perpetuals exchange built on its own layer-1 blockchain, offering lightning-fast trades and low fees. Hypercore is the core component handling the on-chain order book. USDH, launched in September 2025 after a competitive auction won by Native, is Hyperliquid's homegrown stablecoin designed to keep liquidity flowing within the ecosystem without relying heavily on external stables like USDC.

According to the snapshot shared in the tweet, USDH/USDC racked up an impressive $20.4 million in 24-hour volume, trailing only behind HYPE/USDC at $110 million and BTC/USDC at $81.9 million. This puts it ahead of heavyweights like ETH/USDC, which sat at $18.1 million. It's a clear sign that traders are increasingly using USDH as a base for their spot trades.

The Kinetiq Connection: Fueling the Surge

The timing couldn't be more telling. This volume spike coincides with the token generation event (TGE) for Kinetiq's governance token, KNTQ. Kinetiq is the top liquid staking protocol on Hyperliquid, allowing users to stake assets while keeping them liquid for trading. The KNTQ launch on November 27, 2025, included a hefty airdrop—25% of the total supply, with 24% going to kPoints holders—and the token is paired directly with USDH on the platform.

As seen in the trading data, the KNTQ/USDH pair alone contributed $8.64 million in volume, underscoring how new project launches are driving demand for USDH. Traders rushing to swap into USDH to grab KNTQ positions likely amplified this effect, turning what could have been a routine day into a record-breaker for the stablecoin.

Why This Matters for Meme Token Enthusiasts

At Meme Insider, we're all about the wild world of meme tokens, and Hyperliquid has become a hotspot for meme perp trading. With its high-leverage options and meme-friendly community, the platform hosts everything from viral tokens to niche experiments. USDH's rising prominence means smoother on-ramps and exits for meme traders—less slippage when converting to stables, more efficient liquidity pools, and potentially lower costs overall.

This development could signal a shift toward more self-sustained ecosystems in DeFi, where native stables like USDH reduce dependency on bridged assets. For blockchain practitioners eyeing meme opportunities, it's a reminder to watch Hyperliquid closely. As more protocols like Kinetiq integrate deeply, we might see even wilder meme launches and trading frenzies.

Looking Ahead

With USDH now flexing its muscles, expect more eyes on Hyperliquid's roadmap. Will this volume hold steady, or is it just the start of a bigger trend? If you're diving into meme tokens or DeFi, keeping tabs on platforms like this could give you an edge. For more insights, check out resources on Hyperliquid's official site or stay tuned to Meme Insider for the latest updates.