Binance has scheduled Hyperliquid (HYPE) spot trading for Sept. 24 at 11:00 UTC, with three pairs opening as the token carries a market capitalization near $21 billion.
Summary
- Binance will open HYPE spot trading against USDT, USDC and TRY at 11:00 UTC Thursday.
- HYPE receives Binance’s Seed Tag, requiring eligible traders to complete risk quizzes every 90 days.
- Withdrawals are scheduled for September 25, while Binance charges zero BNB as HYPE’s listing fee.
- CoinGecko data puts HYPE’s September 24 market capitalization near $20.9 billion with billion-dollar daily volume.
- Hyperliquid generated $429.04 million through September 15, leading CoinGecko’s adjusted 2026 crypto revenue ranking overall.
Binance, in its Sept. 24 listing notice, announced HYPE/USDT, HYPE/USDC and HYPE/TRY as the initial spot markets. The exchange said deposits would become available one hour after its announcement, while withdrawals are expected to open at 11:00 UTC on Sept. 25. Binance set the listing fee at zero BNB.
Binance HYPE listing opens three spot pairs
Spot Algo Orders are scheduled to become available when HYPE trading starts at 11:00 UTC. Binance said Trading Bots and Spot Copy Trading would follow within 24 hours of the spot listing. Users running copy-trading portfolios can add the new pairs through Binance’s Personal Pair Preference settings.
Access to HYPE/TRY carries a separate restriction. Binance said the Turkish lira pair will only be available to customers with verified Binance TR accounts. TRY represents fiat currency in the listing and is not another digital asset.
Trading eligibility depends on location and account verification. Residents of the United States and its territories cannot trade the three new pairs through Binance, according to the exchange. The restricted list currently includes Canada, the Netherlands, Iran, North Korea, Syria and several other jurisdictions. Binance said the list may change in response to legal or regulatory requirements.
The listing gives HYPE another centralized spot venue while Hyperliquid remains focused heavily on on-chain trading. In related coverage, crypto.news reported that Coinbase added more than 290 Hyperliquid perpetual markets to its Base App in August, offering leverage of up to 50x to eligible users. U.S., U.K. and Canadian users were excluded from that product at launch.
HYPE Seed Tag adds a recurring risk quiz
Binance has attached its Seed Tag to HYPE, a designation the exchange uses for newer projects that it says may carry higher volatility and risk than other listed assets. Binance said HYPE “poses a higher than normal risk” and “will likely be subject to high price volatility.”
Users seeking access to Seed Tag tokens must complete Binance’s risk quiz every 90 days and accept its terms of use. The requirement applies through Binance Spot and Margin where supported, while a risk-warning banner appears on tagged token pages.
Binance introduced the Seed Tag in 2023 to replace its former Innovation Zone designation. Its guidance says tagged projects undergo periodic reviews covering trading volume, liquidity, development activity, network security, team commitment and responses to due-diligence requests.
The designation does not change the announced HYPE launch schedule. Binance said withdrawals are planned for Sept. 25 at 11:00 UTC but described that time as an estimate. The exchange directs users to its withdrawal page for the actual opening status.
HYPE enters Binance listing day near a $21 billion value
CoinGecko’s Sept. 24 data shows HYPE with a market capitalization of $20.91 billion and trading volume of roughly $1.13 billion. The token closed Sept. 23 at $93.98 after closing at $97.19 one day earlier. CoinGecko had not posted a Sept. 24 closing price at the time of its current daily snapshot.
The recent price history shows HYPE climbing rapidly during the preceding week. CoinGecko recorded a $76.92 close on Sept. 15, followed by $85.06 on Sept. 17 and $92.54 on Sept. 18. The token closed Sept. 20 at $93.64 before reaching $94.05 on Sept. 21.
An immediate post-announcement price move has been reported by third-party market coverage. BeInCrypto, citing TradingView’s HYPE/USD market on Coinbase, reported an increase of roughly 1.5% within ten minutes of Binance publishing the listing notice, with the move briefly approaching 1.9%. The figures describe a short intraday reaction and do not establish that Binance’s announcement caused subsequent HYPE price movements.
Recent activity has taken place alongside rising protocol revenue. As crypto.news reported in its coverage of Hyperliquid’s $429 million 2026 revenue lead, CoinGecko calculated $429.04 million in revenue from Jan. 1 through Sept. 15. The figure represented 12.62% of the $3.40 billion comparison pool used in CoinGecko’s adjusted ranking.
Hyperliquid remains first in normalized perp DEX volume
Current DeFiLlama data ranks Hyperliquid first among tracked perpetual DEXs by 24-hour normalized trading volume. Hyperliquid recorded approximately $7.42 billion, compared with $2.08 billion for Aster and $1.93 billion for Lighter. Its reported 30-day perpetual volume stood near $220 billion in the same dataset.
Open interest on Hyperliquid stood at approximately $9.06 billion, according to DeFiLlama. The platform accounted for more than half of the $15.30 billion in open interest shown across the tracked perpetual DEX market at the time of the snapshot. The figures change continuously with trading activity.
Hyperliquid’s own documentation states that perpetual and spot trading fees use volume-based tiers, while HYPE staking can reduce trading fees. Accounts linked to more than 500,000 staked HYPE qualify for the highest published 40% fee discount, while qualifying high-volume market makers can receive rebates reaching 0.003%.
Trading fees routed to Hyperliquid’s Assistance Fund are automatically converted into HYPE, according to the protocol’s documentation, with acquired tokens burned from supply. Crypto.news recently reported on Hyperliquid adding trailing stops to its perpetual markets, allowing trigger prices to follow favorable market moves before executing a market order after a specified retracement.
