Binance launched HYPE spot trading against USDT, USDC and the Turkish lira on Sept. 24, 2026, one day after Hyperliquid's token reached a $98 all-time high. HYPE fell about 4.5% as large holders moved substantial token blocks, then partially recovered to $94, up 6.4% for the week. Hyperliquid Strategies bought 494,200 HYPE over 16 hours, a transaction valued at about $45.8 million in one report and approximately $44.5 million in another. The company reportedly held 35.1 million HYPE worth about $3.2 billion after buying roughly 5.5 million tokens for around $476 million over the preceding month. Binance applied its Seed Tag to HYPE, while reported unstaking and whale transfers raised questions about whether the new venue was generating fresh demand or improving liquidity for early holders seeking to sell.