South Korean cryptocurrency exchange Upbit has announced the listing of Hyperliquid (HYPE) across three trading pairs, expanding access to the token through KRW, BTC and USDT markets. Trading is scheduled to begin at 3 PM Korean Standard Time (KST) on November 10, according to the exchange's announcement.
Deposits and withdrawals will be supported exclusively through the HyperEVM network. Upbit said these services would become available within one hour of the announcement, although the planned trading start could be delayed if market liquidity is insufficient after deposits open.
Upbit Sets Initial Trading Restrictions for HYPE
Upbit will apply temporary restrictions during the opening period to manage trading activity. Buy orders will be unavailable for approximately five minutes after HYPE trading begins.
The exchange will also restrict sell orders priced 10% or more below the previous closing price during the first five minutes. For approximately the first two hours, users will be limited to placing limit orders, with other order types temporarily disabled.
The exchange published reference prices for all three supported markets. HYPE's previous closing price was listed at 102,048 KRW, compared with a recent valuation of 99,608 KRW.
In the BTC market, the reference price stood at 0.0009929 BTC, below the previous closing price of 0.00101346 BTC. The USDT reference price was 74.03 USDT, compared with a previous close of 75.81 USDT.
Upbit Requires HYPE Transfers Through HyperEVM
Users must deposit and withdraw HYPE through HyperEVM. Upbit warned that transfers made through unsupported networks could require lengthy refund procedures.
Additional verification requirements may apply to certain transactions. Users transferring funds from personal wallets must verify wallet ownership, while deposits originating from unsupported exchanges could face restrictions under Travel Rule requirements.
Upbit also noted that large deposits with unclear funding sources may prompt requests for additional documentation as part of its compliance procedures.
Hyperliquid Network and HYPE Token Utility
Hyperliquid operates a Layer 1 blockchain designed to support decentralized trading through two main components: HyperCore and HyperEVM.
HyperCore handles perpetual futures, spot trading, margin operations and liquidations. HyperEVM provides compatibility with Ethereum smart contracts, enabling decentralized applications to interact with HyperCore's trading infrastructure and liquidity.
The HYPE token plays a role in the network's operations, supporting staking and gas payments. Its addition to Upbit's KRW, BTC and USDT markets provides another venue for users to access the asset, subject to the exchange's deposit requirements and temporary opening restrictions.
Writer: Marcus Renfield Crypto Market Analyst & Onchain Writer
Marcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.
He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.
