Hyperliquid announced that Portfolio Margin will transition from the Pre-Alpha phase to the Alpha phase in the next network upgrade. The applicable margin will then cover portfolios up to $500,000, not just test accounts. The new Portfolio Margin requirements are as follows: Master Account: Cumulative trading volume exceeding $5 million before enabling Portfolio Margin; USDH: Global supply cap of 500 million USDH, global lending cap of 100 million USDH, single-user supply cap of 5 million USDH, single-user lending cap of 1 million USDH; USDC: Global supply cap of 500 million USDC, global lending cap of 100 million USDC, single-user supply cap of 5 million USDC, single-user lending cap of 1 million USDC; CHYPE: Global supply cap of 1 million HYPE, single-user supply cap of 50,000 HYPE; BTC: Global supply cap of 400 BTC, single-user supply cap of 20 BTC.