Upbit and Bithumb Announce HYPE Listings With Won Pairs
Upbit announced HYPE markets against won, Bitcoin and USDT, while Bithumb added a won listing. Both exchanges specify HyperEVM for token transfers.
Key Notes
- Upbit announced HYPE trading against Korean won, Bitcoin and USDT.
- Bithumb added a won listing and revised its intended opening to 16:30 KST.
- Both exchanges specify HyperEVM for HYPE transfers.
Upbit and Bithumb announced listings for Hyperliquid’s HYPE token on November 10, expanding access through Korean won markets at both South Korean exchanges. Upbit’s announcement also includes Bitcoin and USDT trading pairs.
The listings concern spot trading in HYPE, the Hyperliquid network’s utility token. They provide another way to buy and sell the asset outside the ecosystem’s own trading interfaces.
Upbit Names Three Markets, Bithumb Revises Its Start Time
Upbit’s notice names KRW, BTC and USDT markets and sets a planned opening of 3 p.m. Korean Standard Time, or 06:00 UTC, on November 10.
A won pair lets customers trade HYPE directly against local currency, whereas the BTC and USDT pairs quote the same token against Bitcoin and a dollar-linked stablecoin.
Bithumb’s updated notice adds HYPE to its won market. It revises the intended opening from 4 p.m. to 4:30 p.m. KST, equivalent to 07:30 UTC. Its announcement also covers Collector Crypt, but that token has a separate schedule.
Both exchanges specify temporary controls for the opening period. Buy orders are restricted for the first five minutes, and trading is limited to limit orders for approximately two hours. Upbit also restricts sharply discounted sell orders initially, while Bithumb applies both lower and upper sell-price boundaries.
Those provisions describe the exchanges’ announced launch arrangements. Both notices allow trading to be postponed if sufficient liquidity is unavailable.
Both Exchanges Specify HyperEVM Transfers
HyperEVM is the supported network for HYPE deposits and withdrawals at both venues. Each notice says transfers through other networks are unsupported, making the network selection an important part of moving tokens to an exchange.
HyperEVM is Hyperliquid’s Ethereum-compatible smart-contract environment. Its compatibility with Ethereum software does not make an Ethereum-mainnet transfer the same transaction or deposit route.
Bithumb specifies 10 deposit confirmations for HYPE. Upbit’s notice additionally describes checks involving supported exchange counterparties and verified ownership of personal wallets. Listing a token does not remove those transfer requirements.
Spot Access Adds to a Wider Ecosystem Expansion
HYPE is used for staking and network gas. Hyperliquid combines HyperCore, which handles its core trading functions, with HyperEVM for smart contracts. Buying the token on a centralized exchange is distinct from opening a leveraged position on Hyperliquid’s perpetual-futures markets.
The announcements follow Kinetiq’s Elysium mainnet launch on November 9. That Layer 2 uses HYPE for gas and settles to HyperEVM, while operating as a separate network. The Korean notices name HyperEVM specifically, rather than every chain that uses HYPE.
There is also a separate push toward regulated US access. A Hyperliquid Strategies subsidiary’s futures-broker application seeks to serve US accounts on permissioned markets. That process concerns brokerage registration and derivatives infrastructure, while the Upbit and Bithumb announcements concern spot-token markets in South Korea.
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