Binance listed HYPE for spot trading on September 24, following Hyperliquid's open interest hitting a record $18 billion this week. Large wallets kept adding to their HYPE holdings through the listing, while the token's price cooled from resistance near $97.23 as its RSI pulled back.
Binance listed HYPE for spot trading on September 24, following Hyperliquid's open interest hitting a record $18 billion this week. The exchange launched HYPE/USDT, HYPE/USDC and HYPE/TRY pairs, with deposits opening alongside trading and withdrawals following 24 hours later. Reportedly, Binance attached its Seed Tag to HYPE, flagging the higher volatility and risk tied to newer listings.
Even so, the listing broadened HYPE's reach beyond an ecosystem where the protocol had already drawn heavy derivatives activity. The timing therefore reinforced the token's market-access story as institutional-linked buying continued elsewhere.
Large wallets keep adding to HYPE
Big holders kept accumulating HYPE around the listing, according to on-chain tracker Lookonchain. A Hyperliquid Strategies-linked wallet bought another 494,200 HYPE, worth approximately $45.8 million, within 16 hours. Its purchases over the previous month reached 5.51 million HYPE, valued at roughly $476 million. The wallet averaged 183,574 HYPE daily, representing nearly $15.86 million in purchases each day, and now holds 35.1 million HYPE worth around $3.2 billion.
A separate whale withdrew 27,300 HYPE, worth around $2.55 million, from Coinbase, pushing its six-day accumulation to 1,870 HYPE, valued roughly $7.13 million.
Exchange outflows point the same way
Hyperliquid recorded roughly $2.82 million in net spot outflows, according to CoinGlass, following several negative sessions through September despite intermittent inflows. The outflows lined up with the Coinbase withdrawal, supporting the case that some holders moved tokens away from immediate spot liquidity. These conditions could favor an upward price move so long as demand stays firm after the listing.
Price cools near resistance as RSI pulls back
HYPE retraced to $91.26 after its advance stalled below the $97.23 resistance area. Buyers had already pushed price decisively above $88.24 before the pullback, and price has stayed above that level since, keeping the breakout structure intact. The RSI, however, cooled to 59.55 from substantially stronger levels earlier, with bearish convergence developing on the daily chart around the token's recent price highs, against an average reading of 59.71.
Another run at $97.23 would need buyers to defend $88.24 and rebuild strength through the RSI cooldown.
Source: AMBCrypto
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