Hyperliquid (HYPE) Pumps 10% Overnight—Binance Announcement Sparks Rally
Another day, another crypto rollercoaster—this time fueled by exchange giant Binance. Hyperliquid (HYPE) defies gravity with a 10% rebound after the platform’s latest move.
No details? No problem. Traders clearly saw something they liked—or just FOMO’d into the green candles. Classic crypto.
Will it hold? Who knows. But for now, HYPE bagholders get to enjoy that sweet, fleeting dopamine hit before the next ’strategic partnership’ press release drops.
Binance Futures Launches HyperLiquid (HYPE) Perpetuals
Crypto exchange Binance to launch Hyperliquid perpetual contract with up to 75x leverage on Futures, according to an official announcement on May 30. The exchange cited expanding the list of trading choices and enhancing users’ trading experience as the rationale behind the move.
Despite the market cap and prominence of decentralized Layer-1 blockchain Hyperliquid in the crypto market, Binance hasn’t listed the asset on spot.
Futures and spot token listings are not correlated. A token listed on Binance Futuresthat it will be listed on Binance Spot.”
Moreover, the crypto exchange will offer it on Futures Copy Trading within 24 hours of the HYPEUSDT perpetual contract trading’s launch.
HYPE Price Recovers 10%
Hyperliquid (HYPE) price fell by over 13% today as a result of the broader crypto market crash. However, HYPE price jumped 10% after its perpetual contract launch announcement by Binance. The market continues to signal bearish sentiment amid options expiry and the US PCE inflation data release.
HYPE 24-hour low and high are $30.82 and $34.54, respectively. Moreover, the trading volume has increased by 34% over the last 24 hours, indicating an increase in interest among traders.
Hyperliquid trader James Wynn suffered a massive loss of more than $99 million in just a week, as his latest 949 Bitcoin long position was liquidated when the price of Bitcoin fell below $105,000 during early Asian trading hours.
BREAKING: The Memecoin whale James Wynn got liquidated
As the $BTC price dropped to $104,044 on #HyperLiquid, James’ (@JamesWynnReal) got partially liquidated for ~$100M worth of $BTC.
James now holds a position valued at $177M. So far, he has lost $31.57M on this trade… pic.twitter.com/DlusfDS1pt
Coinglass data indicates a rebound in the derivatives market, with total HYPE futures open interest rising 2.31% to $1.26 billion in the last four hours.
