Binance Teases Hyperliquid Listing Again, HYPE Whale Buying Sparks

With Hyperliquid gaining massive popularity in the global crypto community, Binance is once again teasing HYPE listing by sharing facts about the decentralized exchange (DEX) in what seems to be a promotion for the platform. The development leads to a 2% upside in HYPE price today, with daily trading volumes shooting 20% to $150 million. On the other hand, whale accumulation of HYPE tokens surges soon after.

Binance.US To List Hyperliquid (HYPE) Soon?

Within a week’s time, the Binance.US exchange is once again teasing Hyperliquid listing, hinting that it could soon start trading for HYPE tokens. Crypto market veteran took this opportunity to ask Binance founder Changpeng Zhao (CZ) whether spot trading for HYPE would be available soon.

On-chain decentralized exchange Hyperliquid gained popularity recently as a perpetual futures and spot trading platform, as it seamlessly executed massive leveraged bets from crypto trader James Wynn. Its native Layer 1 blockchain has stood the test of time by supporting fast, scalable, and low-cost transactions. On the other hand, the total value locked (TVL) on the DEX has doubled just in over the last months.

Whales Accumulate $HYPE Amid Rising Market Activity

Spot On Chain data reveals significant whale activity around the HYPE token, with multiple high-value transactions recorded over the past 24 hours:

1. Whale “0xd83”: Approximately two hours ago, this whale invested $2.5 million USDC to acquire 70,617.6 HYPE tokens at an average price of $35.40.
2. Whale “0x9E8”: Eighteen hours earlier, another whale spent $1 million USDC to purchase 28,500 $HYPE tokens at an average price of $35.09. This acquisition boosted its holdings to a total of 196,344 HYPE tokens, valued at $6.87 million.
3. Whale “0xab6”: About an hour ago, this whale placed a buy order for 57,372 HYPE tokens at a price of $24.95, equating to a $1.45 million investment.

The spike in whale interest following Binance teasing indicates strong confidence in $HYPE, potentially signaling bullish sentiment in the market.

Will Changpeng Zhao Kill the DEX?

Although crypto trader James Wynn popularized Hyperliquid with multi-billion-dollar bets, he slammed the DEX platform for poor referral programs. He said that he offered a partnership proposal to the DEX; however, he received no response, which was fair enough considering that its a decentralized platform. Besides he also slammed the DEX for having a very poor referral program, adding:

“I made $34k through referrals on their platform. Which is extremely poor considering the number of sign ups and volume I generated. Their referral program sucks. Other platforms have far better”.

He also urged Binance founder Changpeng Zhao to create a “dark pool” perpetual decentralized exchange (DEX) “to put an end to Hyperliquid”. Wynn further added: “CZ has the money, network, teams to build something like no other. Look at what he’s done with Binance”.

Last week, Binance Founder Zhao proposed the creation of a “dark pool” DEX after crypto trader Wynn faced multiple liquidations on his massive leverage bets. The transparency of DEX allows big players to look into retail traders’ positions and take a hedge bet, driving liquidations. Thus, to avoid this frontrunning, MEV attacks, and market manipulation on perpetual futures, Zhao proposed having a dark pool mechanism.