Hyperliquid's EVM-compatible layer-1 blockchain, HyperEVM, is gaining traction with increasing transaction volumes and application development since its February launch. Key updates like the CoreWriter have enhanced integration with HyperCore, positioning HyperEVM as a significant component of Hyperliquid's DeFi ecosystem, despite initial limitations in tooling and incentives.

Native USDC and CCTP V2 are set to be integrated into Hyperliquid, enhancing its decentralized finance capabilities. This development will facilitate USDC deposits on HyperCore and allow for seamless cross-chain transactions, making it a foundational asset for various use cases within the ecosystem.