Image Credit: Hyperliquid
- Hyperliquid has secured listings for its HYPE token on South Korean exchanges Upbit and Bithumb.
- Upbit has opened trading markets for HYPE, while Bithumb has revised its planned launch timing.
- Transfers to the exchanges require using HyperEVM and adhering to network confirmation and rule requirements.
Hyperliquid has secured won listings for HYPE on Upbit and Bithumb, South Korea’s two largest crypto exchanges by trading volume. For the trading-focused blockchain’s native token, that opens a major new route to Korean buyers.
Upbit has opened trading against won, Bitcoin and Tether’s USDT, while Bithumb has announced a won pair. Both exchanges support HyperEVM for HYPE deposits and withdrawals.
Upbit Opens Three Markets as Bithumb Revises Its Start
Upbit scheduled trading for 06:00 UTC on Nov. 10, and its market data now shows completed trades across all three pairs. Bithumb’s updated notice moved its planned opening to 07:30 UTC, half an hour later than originally scheduled.
For customers holding won, the new markets remove an extra conversion step: they can trade HYPE without first buying Bitcoin or a dollar stablecoin. Existing holders also gain another local-currency route for selling their tokens.
HYPE Deposits Must Arrive Through HyperEVM
Customers transferring existing holdings need to match the exchanges’ supported network. Both identify HyperEVM, and deposits sent through other networks are not supported. Bithumb requires 10 network confirmations before crediting HYPE deposits.
HyperEVM is Hyperliquid’s smart-contract environment. It is distinct from HyperCore, which handles the network’s trading functions. HYPE held on HyperCore needs to move to HyperEVM before being sent through the supported exchange deposit route.
Network selection is only part of the process. Bithumb also restricts transfers involving other exchanges to approved providers under its Travel Rule requirements. Deposits from platforms outside that list may not be credited, and returning them can take time.
Sending HYPE from a HyperEVM wallet also requires HYPE for network fees. Those fees are separate from any withdrawal charge imposed by an exchange.
Staked HYPE Takes Longer to Reach an Exchange
HYPE is also used to stake with Hyperliquid’s validators, which produce blocks and help secure the network. Those holdings are managed through staking accounts on HyperCore rather than sitting ready for an exchange transfer.
Moving HYPE from a staking account back to a spot account involves a seven-day withdrawal queue. Holders planning to sell staked tokens therefore need to account for that wait as well as the transfer to HyperEVM.
