Binance To Finally List Hyperliquid (HYPE) Token Today, Flags High Risk

Binance has finally launched Hyperliquid (HYPE) on its spot market today with the Seed tag. The crypto exchange has announced the launch of HYPE trading on Thursday, September 24. The listing marks a major feat for the Hyperliquid token as it currently grapples with a slight downtrend amid a bearish sentiment in the overall crypto market.

HYPE Trading On Binance Opens With Three Pairs

The crypto exchange confirmed that HYPE trading will go live on September 24 at 11:00 UTC. The latest Binance listing gives traders access to three new spot pairs, which are HYPE/USDT, HYPE/USDC, and HYPE/TRY.

Users will be able to deposit HYPE one hour before the start of spot trading, Binance said. Withdrawals are set to begin on September 25 at 11:00 UTC. The exchange said the timing of the withdrawals is only an approximation.

Meanwhile, the listing fee has been set at “0 BNB.” Binance will also have Spot Algo Orders in effect during the trading hours. Within 24 hours, the Trading Bots and Spot Copy Trading features will be available, according to the announcement.

However, there are some restrictions for the HYPE/TRY pair. Binance explained that TRY is the Turkish Lira fiat. Hence, only Binance TR users will be able to access the pair.

The exchange also identified regional restrictions. The new pairs will not be available for trading for users in the United States, Canada, Iran, Netherlands and some other jurisdictions.

HYPE Flagged As ‘Higher-Risk’ Token

After the listing, the HYPE token will carry Binance’s Seed tag. The exchange says it is a “relatively new token” that is “higher than normal risk.”

Binance also cautioned that the HYPE price “will likely be subject to high price volatility.” Traders were encouraged to manage their risk and to do their own research prior to trading.

Hence, Seed tag requires eligible users to take risk-awareness quizzes every 90 days. Traders are also required to adhere to the terms and conditions of Binance. The quizzes are applicable to trading on Binance Spot and Binance Margin (where applicable).

According to Binance, the Seed Tag is intended to be used to identify projects which may have more volatility and risk than other listed tokens.

As with all listings, it has account verification needs. The eligibility will be based on geographic location or region of the user. Binance noted that the list of restricted jurisdictions could be updated in light of legal and regulatory updates.

Recently, Hyperliquid has become a leading decentralized trading platform. Now, its native HYPE token will be introduced to Binance spot market. The new listing could help expand the availability of HYPE in the crypto market with the world largest exchange’s listing.