- Binance introduced Hyperliquid’s HYPE token to its spot market, featuring HYPE/USDT, HYPE/USDC, and HYPE/TRY trading pairs.
- To trade the asset, Binance has labeled HYPE with its Seed Tag, which mandates that users pass a risk-awareness questionnaire.
Cryptocurrency exchange Binance has officially incorporated Hyperliquid’s native HYPE token into its spot trading ecosystem, bringing the asset to a major global platform just as its price experiences a downward correction following a robust weekly performance.
As detailed in Binance’s official statement, spot trading for HYPE commenced on September 24 at 11:00 UTC with the introduction of three trading pairs: HYPE/USDT, HYPE/USDC, and HYPE/TRY. The exchange waived the listing fee in BNB, and withdrawals are slated to become available on September 25 at 11:00 UTC. Participation in the HYPE/TRY market requires users to possess verified Binance TR accounts.
Additionally, Binance attached its Seed Tag to Hyperliquid. This classification is reserved for emerging or experimental projects that generally exhibit elevated volatility and risk compared to other digital assets. The exchange stipulates that individuals wishing to trade Seed Tag tokens on the Spot or Margin platforms must successfully complete a risk-awareness quiz once every 90 days and agree to the relevant terms prior to trading.
Warning that Hyperliquid remains a fresh token susceptible to sharp price swings, Binance activated spot algo orders at launch while noting that Spot Copy Trading and Trading Bots would roll out within 24 hours of the debut.
HYPE Price Pulls Back as Bitcoin and Crypto Market Retreat
Data from CoinMarketCap indicates that HYPE changes hands around $91, marking a roughly 4.91% decrease over a 24-hour period. The token registers a 24-hour trading volume near $1.28 billion and a market capitalization of approximately $22.84 billion, securing the No. 10 position on CMC by market cap.
Figures from Binance’s dedicated live price page place the altcoin near $90.33, with a 24-hour peak of $95.97 and a trough of $90.20, variances that stem from differing market conditions and snapshot timings.
Prior to the opening of the Binance spot market, Hyperliquid was already seeing lower values amid a wider market correction. Bitcoin dropped under $84,000 during the trading session after touching nearly $87,300 earlier, dragging down several leading altcoins. Large-cap cryptocurrencies saw HYPE drop by about 5% to 6%, while Ethereum retreated by more than 2.7% and XRP fell by over 6%.
This market downturn follows an intense early-week rally for Bitcoin, which ultimately brought downward pressure across major cryptocurrencies and altcoins on Thursday.
Even with the daily pullback, HYPE maintains a 15% gain over the past seven days. Historical records from CMC show the digital asset closed at $85.06 on September 17 before advancing to an intraday peak of $97.98 on September 23, later concluding that day at $93.97. This new Binance listing supplies Hyperliquid with another prominent centralized exchange venue following its recent upward trajectory.
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Frequently Asked Questions
What trading pairs are available for HYPE on Binance?
Binance launched HYPE spot trading with three pairs: HYPE/USDT, HYPE/USDC, and HYPE/TRY.
Why does HYPE have a Seed Tag on Binance?
Binance applies the Seed Tag to newer or innovative projects that may carry higher volatility and risk, requiring users to pass a risk-awareness quiz every 90 days before trading.
When did HYPE spot trading go live?
Spot trading for HYPE officially began on September 24 at 11:00 UTC.
What is the market position and valuation of Hyperliquid?
HYPE holds a market capitalization of approximately $22.84 billion, placing it at No. 10 by market capitalization on CoinMarketCap.
