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Kraken launches kHYPE token to boost Hyperliquid DeFi use, while whale stakes 1.89M HYPE tokens.

Protocol Fundamentals
10 Sep 2026
AMBCrypto
View Source
Bullish
Kraken launches kHYPE token to boost Hyperliquid DeFi use, while whale stakes 1.89M HYPE tokens.

Kraken introduced kHYPE, a token backed 1:1 by Hyperliquid (HYPE), enabling its use as collateral in DeFi on the Ink platform. This fully collateralized token encourages liquidity movement between Kraken and Ink without redemption fees. Meanwhile, a whale investor staked 1.89 million HYPE tokens, removing them from the market and signaling strong confidence. Although HYPE ETFs hold $464 million in assets, some outflows suggest profit-taking but no immediate concern for institutional demand. These developments could drive broader adoption and ecosystem growth for Hyperliquid.

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