Overview

Binance Futures has officially added HYPE, the proprietary token of HyperLiquid, to its trading platform as of last Friday. This addition comes on the heels of a significant 77.5% price increase over the last month, propelling HYPE into the ranks of the top 15 cryptocurrencies by market capitalization.

Key Points:

• Binance Futures’ HYPE listing provides a USD-margined perpetual contract with leverage of up to 75x.
• Despite the recent listing, HYPE has experienced a 4.3% price decline in the last 24 hours, reflecting a wider downturn in the cryptocurrency market.
• Notably, HYPE has seen a tremendous spike in interest and trading volume, with HyperLiquid achieving $11 billion in perpetual trading volume, establishing itself as a leading decentralized derivatives exchange during this market cycle.

Recent Statements

Prominent trader and HyperLiquid supporter, Flood, commented on social media that the first exchange to launch HYPE in spot markets could potentially earn $100 million in fees within its first year.

Market Status

As of now, while Binance futures dominates the centralized exchange sector with a imposing $91 billion in trading volume over the previous 24 hours, the overall market has seen fluctuations across various cryptocurrencies.