Binance Lists Hyperliquid HYPE With Seed Tag as Token Drops 4.6%

Binance has officially listed Hyperliquid’s native HYPE token for spot trading on one of the world’s largest crypto exchanges. The listing went live on September 24 with three trading pairs. Meanwhile, Binance has added the HYPE token with a “Seed Tag” warning users about its high volatility. 

Following the listing, HYPE fell 4.6% to around $90.50.

Binance Opens HYPE Spot Trading With Zero Fee

On 24 September, Binance opened spot trading for HYPE, giving users a new way to buy and sell the Hyperliquid token. The listing is an important step for HYPE as Binance had previously supported the token only through its futures market.

With spot trading now live, users can trade HYPE through three pairs, including HYPE/USDT, HYPE/USDC, and HYPE/TRY.

Binance has set the listing fee at 0 BNB, while deposits for HYPE are already open. However, users will have to wait until September 25 at 11:00 UTC to withdraw the token from the exchange.

The HYPE/TRY pair has a separate restriction. It is available only to retail users with fully verified Binance TR accounts.

Listing Came With Mandated “Seed Tag”

Along with the listing, Binance has placed a Seed Tag on HYPE. The tag is used for tokens that may carry higher risks and larger price moves.

Users who want to trade HYPE must first complete a risk-warning quiz and accept Binance’s updated terms. The quiz must be completed again every 90 days to keep access to spot and margin trading.

Hyperliquid Activity and Revenue Continue to Grow

HYPE entered the week with a strong move, reaching a new all-time high of $95.99 on September 21. The rise came after Hyperliquid rolled out its new stablecoin lending modules, which brought millions of dollars into the platform.

Since then, Hyperliquid has continued to record strong trading activity. The network currently has around $9.06 billion in open interest and has generated about $429 million in protocol revenue through mid September 2026.

The platform has also generated $59.33 million in revenue over the past 30 days, showing continued activity across its decentralized trading services.

Part of this revenue is used for HYPE buybacks. On September 23, Hyperliquid’s automated system bought back and permanently burned 34,280 HYPE tokens worth about $3.26 million. This reduces the number of HYPE tokens in circulation while the platform continues to generate revenue.

HYPE Price Falls After Binance Listing

Despite the major Binance listing, HYPE did not see an immediate price rally. Instead, the token fell about 4.6% to around $90.50, giving it a market cap of roughly $20.53 billion.

With Binance now adding spot access, HYPE has gained a much larger trading venue.