Hyperliquid’s USDH bidding heats up as Ethena enters as 6th contender Post author:MiamiCrypto Post published:September 9, 2025 Post category:Uncategorized Ethena joins Paxos, Frax, Agora, Native Markets and Sky in the race to issue Hyperliquid’s USDH, a mandate tied to $5 billion in liquidity. You Might Also Like Trader who made $192M shorting the crypto crash is doing it again October 13, 2025 WBTC expands to Hedera as Bitcoin liquidity flows into new DeFi rails November 13, 2025 Sky joins bidding war to launch Hyperliquid’s USDH stablecoin September 9, 2025