Binance will open spot trading for Hyperliquid (HYPE) at 11 a.m. UTC on September 24, listing the token against USDT, USDC, and the Turkish lira (TRY). According to reports from Binance, users can deposit HYPE ahead of the launch, while withdrawals are scheduled to open at 11 a.m. UTC on September 25. The exchange describes Hyperliquid as a high-performance blockchain built around a fully onchain financial system. Binance charged zero BNB as the listing fee and spot algorithmic orders go live alongside trading, with trading bots and spot copy trading following within 24 hours.
The TRY pair is open only to users with verified Binance TR accounts, while residents of the US, Canada, the Netherlands, and several other regions cannot trade any of the new pairs. As reported by Binance, the exchange applies its Seed Tag to newer projects it considers more volatile and riskier than other listed tokens. The exchange warns that "HYPE is a relatively new token that poses a higher than normal risk, and will likely be subject to high price volatility. Users must exercise sufficient risk management and DYOR (do your own research) to fully understand the project before opting to trade the token." Under the tag, users must pass a risk quiz every 90 days to trade HYPE on Binance Spot or Margin, with the exchange warning that HYPE is a relatively new token and is likely to experience sharp price swings.
Large market participants continued accumulating HYPE before and around the Binance listing, confirming the demand supporting its recent price growth. According to Lookonchain, the Hyperliquid Strategies-linked wallet bought another 494,200 HYPE, worth approximately $45.8 million, within 16 hours. Overall, its purchases over the previous month hit 5.51 million HYPE, valued at roughly $476 million, with the wallet averaging 183,574 HYPE daily, representing nearly $15.86 million in purchases each day. Hyperliquid Strategies also held 35.1 million HYPE, worth around $3.2 billion. Additionally, another whale withdrew 27,300 HYPE, worth around $2.55 million, from Coinbase, pushing its 6-day accumulation to 1,870 HYPE, valued roughly $7.13 million.
HYPE entered the listing day with a market capitalization near $21 billion, according to CoinGecko data showing a market cap of $20.91 billion with trading volume of roughly $1.13 billion. The token closed September 23 at $93.98 after closing at $97.19 one day earlier. Recent price history shows HYPE climbing rapidly during the preceding week, with CoinGecko recording closes of $76.92 on September 15, $85.06 on September 17, $92.54 on September 18, and $93.64 on September 20 before reaching $94.05 on September 21. An immediate post-announcement price move saw HYPE post modest gains of approximately 1.5% within 10 minutes, briefly climbing close to 1.9% before giving back part of that move, as reported by BeInCrypto citing TradingView data. However, over the past day, the altcoin has been down nearly 3% amid a broader market decline. HYPE retraced to $91.26 after its recent price advance stalled below the $97.23-resistance area, with buyers having already pushed price decisively above the $88.24-mark before the pullback emerged.
Hyperliquid has generated $429.04 million in revenue from January 1 through September 15, leading CoinGecko's adjusted 2026 crypto revenue ranking overall with 12.62% of the $3.40 billion comparison pool. The platform remains first among tracked perpetual DEXs by 24-hour normalized trading volume, recording approximately $7.42 billion compared to $2.08 billion for Aster and $1.93 billion for Lighter, with reported 30-day perpetual volume standing near $220 billion. Open interest on Hyperliquid stood at approximately $9.06 billion, accounting for more than half of the $15.30 billion in open interest across the tracked perpetual DEX market. Hyperliquid's own documentation states that perpetual and spot trading fees use volume-based tiers, while HYPE staking can reduce trading fees, with accounts linked to more than 500,000 staked HYPE qualifying for the highest published 40% fee discount.
