Arkham flags $4B USDC transfer on HyperEVM as Hyperliquid liquidity rises

A transfer of over $4 billion in USDC into HyperEVM has put Hyperliquid’s liquidity trends in focus as stablecoin balances expand. USDC makes up more than 95% of Hyperliquid’s stablecoin supply and is up 20% this month, with over $6 billion deployed on HyperEVM versus $192 million in USDT. With perpetual futures open interest above $8 billion and ecosystem metrics climbing, the inflow is being watched as a potential catalyst for HYPE’s next phase of price discovery.