South Korean exchange Upbit listed Hyperliquid's HYPE token against the Korean won, Bitcoin and USDT on Tuesday, with deposits and withdrawals on HyperEVM.
Key Facts
Upbit added Hyperliquid's HYPE token to its Korean won, Bitcoin and USDT markets, with trading scheduled to begin at 06:00 UTC on Tuesday.
Deposits and withdrawals are supported only on the HyperEVM network, and Upbit said the start of trading could be delayed if enough liquidity was not secured.
Upbit restricted buy orders for about five minutes after trading opened and allowed only limit orders for about two hours, using CoinMarketCap prices to set its trading limits.
South Korean crypto exchange Upbit listed Hyperliquid (HYPE) on Tuesday, adding trading pairs against the Korean won, Bitcoin and USDT.
Trading was scheduled to begin at 15:00 Korea time (06:00 UTC), with deposits and withdrawals opening within an hour of the notice, which Upbit posted at 04:50 UTC. Transfers are supported only on the HyperEVM network, and CoinMarketCap data showed HYPE trading on Upbit's won, Bitcoin and USDT markets by Tuesday afternoon UTC.
Upbit said in its Korean-language listing notice that trading-restriction prices are determined based on prices provided by CoinMarketCap.
Upbit added HYPE trading against the Korean won, Bitcoin and USDT. Source: CoinMarketCap
Upbit's Opening Rules
Upbit restricted buy orders for about five minutes after trading began. For the same period, it blocked sell orders priced 10% or more below the previous day's close.
For about two hours after the open, Upbit allowed only limit orders, the notice said. It added that the start of trading could be postponed if enough liquidity was not secured after deposits opened.
The exchange listed HYPE's previous-day close at 102,048 won and 75.81 USDT, and a price of 99,608 won as of 13:40 Korea time. Its standard risk warning also noted that price gaps between Korean and overseas exchanges persist. When Korean prices run higher, the gap is known as the kimchi premium.
HYPE's Recent Moves
Upbit is South Korea's largest centralized exchange by trading volume and customer base, CoinMarketCap reported when its operator posted third-quarter results in November 2025. Its notice described Hyperliquid as an onchain trading platform built on its own layer-1 blockchain, with HYPE used for staking and gas fees.
HYPE jumped in late October after Intercontinental Exchange said it plans to bring Hyperliquid perpetuals onshore, but by Nov. 6 the token had slipped below its pre-deal price.
HYPE traded at $71.00, down 5.2% over 24 hours and 17.8% over seven days, according to CoinMarketCap data.
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