Key Insights:
- Binance launched HYPE spot trading on September 24 with USDT, USDC, and TRY pairs.
- Multicoin Capital deposited 130,331 HYPE tokens, valued at $12.15 million, into Coinbase Prime.
- HYPE ranks among the elite altcoins that have outperformed Bitcoin since its all-time high, achieving a 2.9x multiple.
Market developments at the start of September have actively influenced current HYPE price predictions. Binance rolled out HYPE spot trading using USDT, USDC, and TRY trading pairs on September 24. Simultaneously, Multicoin Capital transferred 130,331 HYPE, valued at $12.15 million, to Coinbase Prime.
Additionally, metrics from Glassnode position HYPE among the top 50 altcoins that have surpassed Bitcoin’s performance since its all-time high, with HYPE delivering 2.9 times the returns of Bitcoin.
Binance Opens HYPE Spot Trading
Trading for HYPE on Binance officially commenced at 11:00 UTC on September 24 across HYPE/USDT, HYPE/USDC, and HYPE/TRY pairs. The platform opened deposits one hour before trading began, set withdrawals for 11:00 UTC on September 25, and charged a listing fee of zero BNB.
Because the token is categorized as a higher-risk asset, Binance applied its Seed tag to HYPE. Consequently, users trading Seed-tagged tokens must successfully complete risk-awareness quizzes every 90 days. Furthermore, the exchange scheduled the rollout of Trading Bots and Spot Copy Trading within 24 hours of the spot market opening.
Access to the TRY trading pair is restricted to qualified users via Binance TR. This new listing broadens spot market availability for HYPE while the cryptocurrency trades close to its record valuation.
HYPE Beats Bitcoin Since BTC’s Peak
Glassnode figures indicate that only nine out of the top 50 altcoins have managed to outperform Bitcoin ever since BTC achieved its all-time high. HYPE is included in this select group, boasting a 2.9x performance multiple relative to BTC. Zcash tops the category with a 14.4x return, whereas Monero and NEAR register at 2.6x and 2.1x, respectively.
Over the examined timeframe, the data places HYPE ahead of UNI, TRX, LEO, and TAO. This relative strength coincides with expanding trading activity on Hyperliquid. Total open interest on the network hit a record-breaking $18 billion on September 23, surpassing the previous peak of $16.36 billion recorded on September 19.
Bitcoin, Ether, and HYPE contributed approximately $9.33 billion to that aggregate sum. Furthermore, activity widened across equities, gold, crude oil, and index-linked perpetual contracts via HIP-3 markets.
Multicoin Moves $12.15M in HYPE
On September 24, Multicoin Capital sent 130,331 HYPE—worth roughly $12.15 million—to Coinbase Prime. According to tracking from Lookonchain, the investment firm has shifted a cumulative 4.23 million HYPE to Coinbase Prime since July 28. At the time of execution, those historic transfers carried an approximate combined worth of $285 million.
While the transaction confirms the movement of assets into Coinbase Prime—which supplies custody and execution services—onchain data does not explicitly verify whether Multicoin liquidated the holdings. Following the transfer, HYPE traded near $92, marking a roughly 3% decline over a 24-hour window.
Even so, the token remained more than 10% higher compared to the preceding seven days. Hyperliquid also unlocked approximately 9.92 million HYPE on September 6, though scheduled token releases do not automatically translate to open-market liquidations.
HYPE Price Prediction Focuses on $97.99
After hitting an all-time high of $97.99 on September 23, HYPE underwent a minor correction toward $92.50. This record high establishes a crucial benchmark for upcoming HYPE price predictions. Reclaiming levels above $97.99 would push the asset back into price discovery, whereas sustained movement underneath it leaves that peak acting as immediate overhead resistance.
The $92 region also warrants close observation, as HYPE previously set a high of $92.56 on September 18. Overall, the cryptocurrency maintains a bullish higher-timeframe market structure, with the $82 zone functioning as the primary demand area.
A continued push past $89.59 could clear a path toward $130 before attention shifts to the $180 supply ceiling.
Technical assessments designate $68.34 as the near-term invalidation marker, while the broader HYPE market structure remains technically sound as long as it holds above $47.59.
Ultimately, expanded Binance spot availability, HYPE’s 2.9x outperformance against Bitcoin, and record-breaking open interest on Hyperliquid currently align with ongoing institutional token movements.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets carry substantial risk.