Binance opened spot trading for Hyperliquid’s HYPE token at 11:00 UTC on Sept. 24, 2026, launching HYPE/USDT, HYPE/USDC and HYPE/TRY markets alongside flexible savings, margin borrowing and limited-time zero-fee purchase and conversion access. HYPE initially rose after the announcement but fell below $90 as selling accelerated, trading at $90.89 at 11:15 UTC, down 5.2% over 24 hours after touching a session low near $89.89. Binance assigned HYPE its higher-risk Seed Tag, scheduled withdrawals for Sept. 25 at 11:00 UTC and charged no listing fee. Hyperliquid, whose native token was described as the 10th-largest cryptocurrency with a $22.96 billion market capitalization, is a Layer-1 blockchain focused on perpetual futures and spot trading. Binance will also remove selected USDC-denominated margin pairs at 06:00 UTC on Sept. 25 and selected USDC spot pairs at 03:00 UTC that day. PANews also cited DeFi researcher Ignas, who said Binance’s user-led listing rationale was inconsistent with the absence of LIT, VVV and FLUID and with some insider allocations and low-liquidity memecoin promotions through Binance Alpha. Ignas argued that a listing can create selling pressure when projects provide tokens for airdrops and marketing that later reach BNB or FDUSD holders.