Binance has officially added HYPE, the native token of the Hyperliquid blockchain, to its global spot trading platform. This move follows the exchange's earlier decision to offer perpetual futures contracts for the asset, which have been available on the platform since May 30, 2025, with leverage reaching up to 75x.
The HYPE token was launched on November 29, 2024, with a maximum supply of 1 billion tokens. At the time of its inception, 31% of the total supply was distributed to users through an airdrop. Since its launch, the token reached an all-time high between $90 and $97, with its market capitalization surpassing $20 billion during peak periods.
Prior to this global listing, spot trading for HYPE was limited to Binance.US, which enabled HYPE/USDT and HYPE/USD pairs on June 6, 2025. The expansion to the global platform provides access to a significantly larger international user base, despite Hyperliquid operating as a decentralized competitor to Binance in the derivatives market.
Hyperliquid functions as a Layer-1 blockchain specifically engineered for trading, utilizing an on-chain order book known as HyperCore. The network operates on the HyperBFT consensus mechanism, which supports sub-second transaction finality and zero gas fees. Additionally, the platform has introduced the HIP-1 token standard for spot deployments.
