USDC's on-chain activity on Hyperliquid has reached unprecedented levels, with its transfer volume hitting a new all-time high of $10.39 billion, according to Artemis. The stablecoin's supply on the platform has surged to $4.2 billion, marking a 200% increase over the past four weeks. Additionally, daily active stablecoin users on Hyperliquid have grown to 3,910, reflecting a 163% rise compared to five months ago.