Binance Lists Hyperliquid's Native Token HYPE in Spot Market
Binance, the largest cryptocurrency exchange by trading volume, is adding Hyperliquid's native token HYPE to its spot market. The listing introduces three trading pairs: HYPE/USDT, HYPE/USDC, and HYPE/TRY. The HYPE/TRY pair comes with a separate restriction, only available to customers with verified Binance TR accounts.
The HYPE token was first introduced by Hyperliquid on November 29, 2024, with a total supply of 1 billion tokens. It plays a role in governance and the network's fee structure. According to CoinGecko data, the token has a market capitalization near $20.9 billion and daily trading volume of roughly $1.13 billion.
Binance emphasized that HYPE 'poses a higher than normal risk' due to its high price volatility. The exchange attached its Seed Tag to HYPE, which requires traders seeking access to complete a risk quiz every 90 days and accept the exchange's terms of use.