South Korean cryptocurrency exchange Upbit has announced plans to list Hyperliquid (HYPE) on November 10, with trading scheduled to begin at 3 p.m. Korea Standard Time across three markets.
Summary
- Upbit announced plans to list Hyperliquid (HYPE) on November 10, with trading scheduled to begin at 3 p.m. Korea Standard Time across KRW, BTC and USDT markets.
- The exchange will temporarily restrict buy orders and certain sell orders for approximately five minutes after launch, while only limit orders will be permitted during the first two hours.
- HYPE deposits and withdrawals will be supported exclusively through HyperEVM, with transfers subject to Upbit’s wallet verification and travel rule requirements.
- Hyperliquid continues to expand its derivatives infrastructure through HyperCore and HIP 3, which supports independently deployed perpetual futures markets.
According to the exchange’s November 10 announcement, HYPE will be available against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT), with deposits and withdrawals supported exclusively through the HyperEVM network.
The exchange said deposits and withdrawals would become available within one hour of the announcement. However, the scheduled trading launch could be delayed if sufficient liquidity is not secured after deposits open.
At 1:40 p.m. KST, Upbit’s reference data placed HYPE at 99,608 won (74.03),comparedwiththepreviousday’sclosingpriceof102,048won(75.81).
The reference price was approximately 2.4% below the previous close, although the figures were published before HYPE trading was scheduled to begin on the exchange.
Upbit sets initial trading restrictions for HYPE
Upbit has introduced several temporary restrictions for the first hours of HYPE trading, following its standard procedures for newly supported cryptocurrencies.
Buy orders will remain unavailable for approximately five minutes after trading begins. During the same period, sell orders priced more than 10% below the previous day’s closing price will be restricted.
The exchange will use CoinMarketCap pricing to determine the applicable trading limits.
For approximately two hours after the market opens, traders will only be permitted to place limit orders. Other order types and conditional orders will become available after the initial restriction period.
Deposits made through networks other than HyperEVM will not be supported, and users transferring HYPE from external exchanges must comply with Upbit’s travel rule requirements.
Under the exchange’s deposit policy, transfers from virtual asset service providers outside its approved list may not be credited to customer accounts.
Personal wallet transfers require prior ownership verification, while large deposits with unclear origins may prompt requests for information about the source of funds.
Upbit’s withdrawal policy further provides for a 100 million won equivalent per-transaction limit on the twentieth business day, counted from the business day after trading support begins.
Hyperliquid expands its exchange presence
The listing brings HYPE to another major centralized trading venue as Hyperliquid continues developing its onchain derivatives infrastructure.
Hyperliquid operates its own layer-1 blockchain, where HyperCore handles perpetual futures, spot trading, order books, margin management, and liquidations directly onchain.
Its HyperEVM environment supports Ethereum-compatible smart contracts and allows developers to connect applications with HyperCore’s trading infrastructure.
The HYPE token is used for network staking and transaction fees, while the blockchain relies on HyperBFT consensus and delegated proof-of-stake validation.
Trading activity on the platform has grown considerably this year. In September, crypto.news reported that Hyperliquid’s open interest had surpassed $18 billion for the first time.
At the time, Bitcoin, Ether, and HYPE perpetual contracts accounted for approximately $9.33 billion in outstanding positions, while markets covering commodities, equities, and indices were gaining traction.
Hyperliquid continues developing new derivatives markets
Hyperliquid has been expanding the types of markets that independent developers can operate through its HIP-3 framework.
In September, the platform introduced permissioned HIP-3 markets on testnet, allowing deployers to manage access through onchain allowlists.
The optional feature permits market operators to restrict participation without changing access rules for existing permissionless markets.
More recently, Hyperliquid outlined Payward’s regulated market proposal on October 26.
Under the proposal, Kraken’s parent company plans to work with Bitnomial to offer perpetual futures through a regulated US structure, subject to approval from the Commodity Futures Trading Commission.
Bitnomial would handle the proposed markets’ clearing and settlement arrangements, while NinjaTrader Clearing would maintain customer accounts.
Separately, Intercontinental Exchange announced an agreement with Trade[XYZ] on October 29 to develop a US perpetual futures business using Hyperliquid’s infrastructure.
The proposed arrangement would provide access through regulated brokers and remains dependent on the necessary regulatory approvals.
