HyperEVM stablecoin supply surged from $0 to $940M in 12 months. USDC alone accounts for ~$600M (63%), up 200% in the last month.

> On Dec 8, 2025, Hyperliquid linked native USDC between HyperCore and HyperEVM via CCTP V2, enabling direct deposits from 12+ chains and beginning Arbitrum bridge deprecation. One week later, USDC on HyperEVM surged from $51.8M to $215.6M on Dec 15 (+$163.8M), then to $415.8M on Dec 16 (+$200.2M). This +$364M in two days was the single largest inflow event in HyperEVM's history, driven by both new capital and migration from bridged USDC.e to native USDC.

> USDH grew from $10M at launch (Sep 22, 2025) to $96M in 6 months, reaching ~10% of HyperEVM stablecoin supply