HYPE Token Surges 13% on Binance US Listing News

Hyperliquid’s native token, HYPE, experienced a significant surge of nearly 13% following the announcement that it would soon be listed on Binance US. This news, which came just a day after Binance Futures introduced a new high-leverage derivative product tied to HYPE, has reignited bullish sentiment across the crypto market. The token, which powers the rapidly growing Hyperliquid derivatives exchange, has shown strong momentum just days after pulling back from its recent all-time high.

Traders and analysts are closely monitoring the token as it positions itself for a potential breakout into new price territory. Following the listing news, the HYPE token climbed to $37.48, representing a 12.56% increase in 24 hours, with the price range for the day spanning from $33.05 to $37.77. This surge in price was accompanied by a significant spike in trading volume, which soared nearly 79% to $329.33 million, indicating strong demand following the listing announcement.

The price action continues a broader uptrend that began in early April. On April 7, HYPE hit a local bottom of $9.30, after which the asset began a steep climb that culminated in a new all-time high of $39.68 on May 26. Since then, the token experienced a modest correction but maintained a strong bullish structure, consistently forming higher highs and higher lows. Now, with the news of a Binance US listing, buyers have returned in force, pushing the token within striking distance of its previous peak.

Technically, the setup remains highly favorable for bulls. HYPE has remained firmly above its 20-day exponential moving average since April, reflecting a sustained uptrend. On the 12-hour chart, the price structure shows a clear cup-and-handle pattern, a classic bullish continuation signal. The handle, formed by the recent pullback, tested and held support around the $28.40 level, previously a major resistance, before the latest rally resumed. Momentum indicators also support the current bullish outlook. The Relative Strength Index (RSI) has climbed to 68, approaching the overbought zone and nearing a potential golden cross. At the same time, the Moving Average Convergence Divergence (MACD) is showing signs of shifting back into bullish territory. The histogram bars are shrinking, while the MACD line is on the verge of crossing above the signal line, which often precedes further upward movement.

Fundamentally, Hyperliquid continues to dominate the decentralized derivatives exchange space. With over 81% market share in the DEX derivatives sector, the protocol remains the leading platform for perpetual futures trading. In the last 24 hours alone, Hyperliquid processed $6.495 billion in perpetuals volume on its proprietary Layer 1 network. This commanding position lends strong support to the token’s market value and investor confidence. At present, HYPE ranks #11 among all cryptocurrencies by market cap, valued at approximately $12.52 billion. The circulating supply stands at 333.9 million tokens out of a total max supply of 1 billion. Meanwhile, the token continues to gain attention, now appearing on over 105,000 watchlists—a reflection of its growing popularity among traders and investors alike.

With the upcoming Binance US listing acting as a major catalyst, HYPE is poised to potentially break past its current all-time high. If momentum continues to build, a decisive move above $40 could usher in a new phase of price discovery. For now, all eyes remain on Hyperliquid as the market watches whether the token can capitalize on its momentum and push into uncharted territory.