Key Insights:
- Binance opens HYPE spot trading with USDT, USDC and TRY pairs on September 24.
- Multicoin Capital transferred 130,331 HYPE worth $12.15 million to Coinbase Prime.
- HYPE price is among the top altcoins that have beaten Bitcoin since its all-time high, at 2.9x.
September brought several market developments that continue to influence the HYPE price prediction. On September 24, Binance introduced spot trading for HYPE using USDT, USDC and TRY pairs. Simultaneously, Multicoin Capital deposited 130,331 HYPE, valued at $12.15 million, into Coinbase Prime.
In addition, analytics from Glassnode position HYPE among the top 50 altcoins that have outperformed Bitcoin since its peak, achieving 2.9 times the performance of Bitcoin.
Binance Opens HYPE Spot Trading
At 11:00 UTC on September 24, Binance officially launched HYPE spot trading. The platform rolled out HYPE/USDT, HYPE/USDC and HYPE/TRY pairs, opening deposits one hour prior to trading and scheduling withdrawals for September 25 at 11:00 UTC with a zero BNB listing fee.
Because the token is categorized as a higher-risk asset, Binance applied its Seed tag to HYPE. Consequently, users trading Seed-tagged tokens must pass risk-awareness quizzes every 90 days. The exchange also scheduled Spot Copy Trading and Trading Bots to go live within 24 hours of the spot launch.
Eligible users can access the TRY trading pair through Binance TR. This new listing broadens spot market access for HYPE while the cryptocurrency trades close to its record value.
HYPE Beats Bitcoin Since BTC’s Peak
Glassnode metrics reveal that out of the top 50 altcoins, only nine have surpassed Bitcoin since BTC hit its all-time high. HYPE sits within this select group, showing a 2.9x performance multiple relative to BTC. Zcash tops the category at 14.4x, followed by Monero at 2.6x and NEAR at 2.1x.
On this chart, HYPE ranks ahead of UNI, TRX, LEO and TAO for the same timeframe. This relative strength coincides with growing activity across the Hyperliquid platform, where open interest reached a historic $18 billion on September 23, surpassing the previous record of $16.36 million set on September 19.
Ether, Bitcoin and HYPE made up roughly $9.33 billion of that aggregate sum. Furthermore, HIP-3 markets expanded trading activity into index-linked perpetual contracts, crude oil, gold and equities.
Multicoin Moves $12.15M in HYPE
On September 24, Multicoin Capital sent 130,331 HYPE—estimated at $12.15 million—to Coinbase Prime. According to Lookonchain, the institution has funneled a total of 4.23 million HYPE to Coinbase Prime since July 28, representing an estimated combined worth of $285 million at the time of each transfer.
While onchain records confirm the deposit into the custody and execution platform, these transfers do not definitively prove that Multicoin has liquidated the holdings. Following the transfer, HYPE traded near $92, marking a roughly 3% decline over a 24-hour window.
Despite this dip, the token remained more than 10% higher than its price from the previous week. Hyperliquid also unlocked roughly 9.92 million HYPE on September 6, though token unlocks do not automatically translate to open market sales.
HYPE Price Prediction Focuses on $97.99
After reaching an all-time high of $97.99 on September 23, HYPE pulled back toward $92.50. This record high serves as a vital benchmark for upcoming price action. Reclaiming $97.99 would push HYPE back into price discovery, whereas trading below that threshold leaves the recent peak as the primary resistance ceiling.
The $92 region also warrants observation, given that HYPE crypto established an earlier record of $92.56 on September 18. Furthermore, the higher-timeframe structure remains bullish, with the $82 zone functioning as the immediate demand area.
A sustained break above $89.59 could clear the way toward $130, paving a path ahead of the $180 supply region.
Technical analysis identifies $68.34 as the near-term invalidation level, while the broader structural outlook for HYPE holds firm above $47.59.
Ultimately, expanded Binance spot availability, a 2.9x performance multiple against Bitcoin, and record Hyperliquid open interest continue to unfold alongside major institutional wallet transactions.
This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets carry substantial risk.
Frequently Asked Questions
- When did Binance open HYPE spot trading?
Binance opened HYPE spot trading at 11:00 UTC on September 24 with USDT, USDC and TRY pairs. - How much HYPE did Multicoin Capital transfer to Coinbase Prime?
Multicoin Capital transferred 130,331 HYPE worth $12.15 million to Coinbase Prime on September 24. - What is HYPE’s performance compared to Bitcoin?
Glassnode data shows HYPE has achieved a 2.9x performance multiple against Bitcoin since Bitcoin’s all-time high. - What was HYPE’s all-time high price?
HYPE reached its all-time high of $97.99 on September 23.