Upbit Announces Hyperliquid (HYPE) Listing Across Three Trading Markets

Summary

• Upbit has announced Hyperliquid (HYPE) trading across KRW, BTC, and USDT markets, expanding access to the token for South Korean investors.
• The exchange has introduced temporary buying, selling, and order restrictions, while publishing HYPE reference prices across all three supported markets.
• HYPE deposits and withdrawals require HyperEVM, while Hyperliquid supports decentralized trading, smart contracts, network staking, and blockchain gas fee payments.

South Korean cryptocurrency exchange Upbit has expanded its supported digital assets by announcing the listing of Hyperliquid (HYPE) across three trading markets. According to Upbit’s November 10 announcement, HYPE trading will begin at 3 PM Korean Standard Time (KST), supporting KRW, BTC, and USDT pairs.

The exchange confirmed that deposits and withdrawals would operate exclusively through HyperEVM, with services opening within one hour of the announcement. Upbit also warned that insufficient market liquidity could delay the scheduled trading launch, depending on conditions following the opening of deposits.

Upbit Introduces Trading Restrictions and Confirms HYPE Reference Prices

Upbit has established temporary trading restrictions designed to regulate order activity during the initial stages of HYPE’s market debut. Buy orders will remain restricted for approximately five minutes after trading begins, while certain sell orders will face similar limitations.

Specifically, the exchange will block sell orders priced 10% or more below the previous closing price during the opening five minutes. Additionally, traders will only be able to submit limit orders for approximately two hours, with other order types temporarily unavailable.

The exchange also published reference prices showing HYPE’s previous closing price at 102,048 KRW, compared with its recent valuation of 99,608 KRW. Meanwhile, HYPE traded at 0.0009929 BTC and 74.03 USDT, below previous closing prices of 0.00101346 BTC and 75.81 USDT, respectively.

HyperEVM Deposit Requirements and Hyperliquid Network Features

Upbit requires users to transfer HYPE exclusively through HyperEVM, warning that unsupported network deposits could result in lengthy refund procedures. Furthermore, personal wallet transfers require ownership verification, while deposits from unsupported exchanges may encounter restrictions under Travel Rule requirements.

Large cryptocurrency deposits with unclear funding sources may also trigger additional documentation requests as part of the exchange’s compliance procedures. Hyperliquid operates a Layer 1 blockchain supporting decentralized trading through HyperCore, which handles perpetual futures, spot transactions, margin operations, and liquidations.

Meanwhile, HyperEVM provides Ethereum-compatible smart contract functionality, allowing decentralized applications to interact with HyperCore’s trading infrastructure and liquidity. The HYPE token supports network staking and gas payments, forming part of Hyperliquid’s blockchain operations.

Upbit’s listing expands HYPE trading access across three markets while introducing specific deposit requirements and temporary transaction restrictions.