HYPE Continues To Climb Despite no Binance or Coinbase Listing

Core Insights - HYPE has significantly outperformed the overall crypto market, increasing over 20% in the past week, and has a market cap of $12.6 billion despite not being listed on major exchanges like Binance or Coinbase [1][6]. Group 1: Market Performance - HYPE's recent surge is attributed to Hyperliquid's plans to raise $1 billion in fresh capital, with part of the funds allocated for token buybacks [2]. - The decentralized perpetual futures exchanges, including Hyperliquid, have collectively achieved over a trillion dollars in trading volume in October, indicating strong market interest [3]. - HYPE's market cap ranking is impressive, especially considering it is not listed on Binance, which holds a 37.5% share of overall trading volume [4][6]. Group 2: Exchange Listings - The decision not to list HYPE on Binance may be strategic, especially given Binance's close ties with Hyperliquid's competitor, Aster [4]. - Binance's founder acknowledged that listing decisions can be influenced by competition, suggesting that HYPE's rising market cap may soon pressure Binance to reconsider its listing strategy [5]. - Coinbase has also refrained from listing HYPE, with the likelihood of such a listing dropping from over 85% to 35% as the year progressed [7].