Hype Gains Wider Market Access on Binance Following Record Open Interest Milestone

Hype (HYPE) has gained wider market access after Binance listed the token, following Hyperliquid's record $18 billion open interest milestone this week.

The exchange launched HYPE/USDT, HYPE/USDC, and HYPE/TRY spot trading pairs on September 24. Deposits opened alongside trading, with withdrawals scheduled to follow 24 hours later.

Binance attached its Seed Tag to HYPE, reflecting the higher volatility and risks associated with newer listed assets. However, this did not deter large market participants from accumulating HYPE before and around the Binance listing.

According to Lookonchain, the Hyperliquid Strategies-linked wallet bought another 494,200 HYPE, worth approximately $45.8 million, within 16 hours. This purchase added to its previous month's accumulation of 5.51 million HYPE, valued at roughly $476 million.

Hyperliquid Strategies also held 35.1 million HYPE, worth around $3.2 billion. Meanwhile, another whale withdrew 27,300 HYPE from Coinbase, pushing its 6-day accumulation to 1,870 HYPE, valued at roughly $7.13 million.

The exchange outflows and whale activity supported the accumulation trend as Binance introduced a new venue for Hyperliquid trading. The recent reading followed several negative sessions visible during the September period, despite intermittent periods of positive inflows.