Binance.US teases HYPE token listing, sparking a 20% surge in daily trading volume, boosting Hyperliquid’s DeFi momentum.
Binance is once again teasing the HYPE listing by sharing facts about the decentralized exchange (DEX) in what appears to be a promotion for the platform, as Hyperliquid is acquiring massive popularity in the global crypto community. The development results in a 2% increase in the price of HYPE today, with daily trading volumes increasing by 20% to $150 million.
Binance.US to List Hyperliquid (HYPE)?
Within the next week, the Binance.US exchange is promoting a Hyperliquid listing again, suggesting that it may soon begin trading HYPE tokens. This presented an occasion for a crypto market veteran to inquire about the imminent availability of spot trading for HYPE with Binance founder Changpeng Zhao (CZ).
Hyperliquid has recently garnered popularity as a perpetual futures and spot trading platform, as it seamlessly executed massive leveraged bets from crypto trader James Wynn. Its native Layer 1 blockchain has endured the test of time by facilitating low-cost, scalable, and rapid transactions. Conversely, the DEX’s total value locked (TVL) has multiplied in the past few months.
Will Changpeng Zhao eliminate the DEX?
James Wynn, a crypto trader, popularized Hyperliquid with multi-billion-dollar wagers. However, he criticized the DEX platform for its inadequate referral programs. He stated that he submitted a partnership proposal to the DEX but did not receive a response, which was reasonable given that it is a decentralized platform. Additionally, he criticized the DEX for its inadequate referral program, stating:
“I made $34k through referrals on their platform. Which is extremely poor considering the number of sign ups and volume I generated. Their referral program sucks. Other platforms have far better”.
Additionally, he encouraged Changpeng Zhao, the founder of Binance, to establish a perpetual decentralized exchange (DEX) with a “dark pool” to “put an end to Hyperliquid.” Wynn stated, “CZ has the resources, the network, and the teams to construct an unparalleled entity.” Look at the work he has accomplished with Binance.
Last week, Zhao, the founder of Binance, suggested the establishment of a “dark pool” DEX in response to the numerous liquidations that crypto trader Wynn experienced on his substantial leverage wagers. The transparency of DEX enables major players to examine the positions of retail traders and place a hedge wager, thereby facilitating liquidations. Consequently, Zhao suggested implementing a dark pool mechanism to prevent frontrunning, MEV assaults, and market manipulation on perpetual futures.
