Hyperliquid (HYPE) Surges 3.2% on Korea Listings, Buybacks

Hyperliquid (HYPE) was listed on South Korean exchanges Upbit and Bithumb on November 10, 2026, but its price dropped 3.2% in 24 hours and 13.1% over the past week, trading at $74. The decline is attributed to profit-taking by early investors, forced liquidations, and increased supply from Binance withdrawals and ETF outflows. Despite the listings, HYPE's price remains under pressure due to these factors and the pending approval of a U.S. futures plan by the Commodity Futures Trading Commission.

South Korea's top crypto exchanges, Upbit and Bithumb, will list Hyperliquid (HYPE) on November 10. HYPE rose 0.73% in 24 hours despite a broader market decline. The listings come after HYPE's 12% drop over the past month and 24% decline from its September record. Upbit and Bithumb set different trading terms for Korean traders, with Upbit offering KRW, BTC, and USDT markets, and Bithumb offering a single KRW pair with a reference price of 100,700 won.

Upbit and Bithumb, South Korea's top crypto exchanges, will list Hyperliquid's HYPE token on November 10 in KRW, BTC, and USDT markets. HYPE, launched in 2024, is used for fees, staking, and governance in the Hyperliquid ecosystem, which is the largest decentralized perpetual exchange by volume. The listings provide Korean traders direct fiat access to HYPE.

Binance, the largest crypto exchange, reopened withdrawals for Hyperliquid (HYPE) and Aptos (APT) tokens after a $6.4B hack. The delay in HYPE withdrawals sparked community backlash, with accusations of unfair competition. Binance attributed the delay to audits of Hyperliquid's custom blockchain, HyperEVM. The exchange previously covered user losses from its SAFU fund and froze some stolen funds with Tether and Circle's help.

Hyperliquid Strategies Inc. reported $620.6M in Q3 profits, with $803M in unrealized gains from its $HYPE token holdings. The company raised $911M in equity capital and acquired 9.1M $HYPE tokens. Its stock, PURR, is highly correlated to $HYPE's price. Billionaire Stan Druckenmiller's tweet drove $HYPE to $97, but whales sold during the rally. Analysts note potential downside to $60.50-$68.35.

Cryptocurrencies fell sharply due to U.S. regulatory concerns, a strong dollar, and better-than-expected jobs data. Bitcoin (BTC) dropped 3.2% to $75,716.60, with BTC ETFs seeing $430M outflows. Ethereum (ETH) declined 4.5% to $2,237.96, and other major coins also saw declines. The overall crypto market cap fell to $2.54T.