HYPE gained wider market access after Binance listed the token, following Hyperliquid’s record $18 billion open interest milestone this week.
In particular, the exchange launched HYPE/USDT, HYPE/USDC, and HYPE/TRY spot trading pairs on 24th of September. Deposits opened alongside trading, with withdrawals scheduled to follow 24 hours later.
Reportedly, Binance, however, attached its Seed Tag to HYPE, reflecting the higher volatility and risks associated with newer listed assets.
Even so, the Binance listing still broadened HYPE’s reach beyond an ecosystem where the protocol had already attracted significant derivatives activity.
The timing therefore reinforced the token’s market-access picture as institutional-linked accumulation continued elsewhere.
Large holders keep absorbing HYPE
Large market participants continued accumulating HYPE before and around the Binance listing, confirming the demand supporting its recent price growth.
According to Lookonchain, the Hyperliquid Strategies-linked wallet bought another 494,200 HYPE, worth approximately $45.8 million, within 16 hours.
Overall, its purchases over the previous month hit 5.51 million HYPE, valued at roughly $476 million.
Also notably, the wallet averaged 183,574 HYPE daily, representing nearly $15.86 million in purchases each day. Hyperliquid Strategies also held 35.1 million HYPE, worth around $3.2 billion.
Additionally, another whale meanwhile withdrew 27,300 HYPE, worth around $2.55 million, from Coinbase, pushing its 6-day accumulation to 1,870 HYPE, valued roughly $7.13 million.
These repeated accumulation activities therefore implied that substantial buyers continued building exposure as Binance widened the token’s accessibility.
Exchange outflows support the accumulation case
The exchange flows also added another layer to the accumulation trend as Binance introduced a new venue for Hyperliquid trading.
As of the time of reporting, Hyperliquid had recorded roughly $2.82 million in net spot outflows, according to CoinGlass.
Also notably, the recent reading followed several negative sessions visible during the September period, despite intermittent periods of positive inflows.
The withdrawals correlated with separate whale activity, including the 27,300-token withdrawal from Coinbase. The broader exchange flows therefore supported the narrative that some holders had moved tokens away from immediate spot liquidity.
Eventually, these conditions could favor an upward price move so long as demand remains firm following the listing.
Can $88.24 anchor another HYPE push?
HYPE retraced to $91.26 after its recent price advance stalled below the $97.23-resistance area.
Buyers however had already pushed price decisively above the $88.24-mark before the pullback emerged near the upper resistance.
Notably, price then remained above the $88.24-level, keeping the latest breakout structure intact despite the correction from recent highs.
The RSI indicator, however, complicated that price setup after cooling to 59.55 from substantially stronger levels earlier.
The indicator’s average stood at 59.71, while the daily chart showed bearish convergence developing around the altcoin’s recent price highs.
Another $97.23-attempt therefore would require buyers to defend the $88.24-price level and rebuild strength amid the RSI cooling.
A strong breakout above the $97.23-level could push the broader advance and open price discovery towards the next resistance.
Final Summary
- Whale accumulation and spot outflows kept HYPE’s underlying demand picture firmly supported.
- HYPE’s $88.24 support remained crucial as bearish RSI convergence increased pullback risks.