Binance Futures Lists HYPE With Up to 75x Leverage, NO Price Pump, Why?

The post Binance Futures Lists HYPE With Up to 75x Leverage, NO Price Pump, Why? appeared first on Coinpedia Fintech News

Binance Futures has made a big move by adding the HYPE/USDT perpetual contract to its platform. Starting from May 30 at 10:30 UTC, traders can now take advantage of up to 75x leverage on HYPE, the native token of Hyperliquid.

However, despite this exciting launch, HYPE’s price has surprised many by dropping 4.5% in the past 24 hours instead of going up.

Binance Futures Lists HYPE

According to the Binance announcement, the HYPE/USDT perpetual contract went live on May 30 at 10:30 UTC. This new contract is designed to give traders more flexibility and high-leverage opportunities. 

Binance has set a maximum funding rate of +2.00% or -2.00% at launch, and funding fees are settled every four hours. Binance also mentioned that they may adjust these numbers in the future based on market risks, so traders need to stay alert.

This new contract will also be available for Futures Copy Trading within a day, making it easier for newcomers to follow top traders. 

But Why No Price Pump?

Despite this big launch, HYPE’s price didn’t go up. In fact, it dropped by 11% in the past week, now sitting at around $32.8. This has left many people scratching their heads, especially since HYPE has been on fire lately. 

Over the past month, the token has jumped 78%, beating out other top coins like Bitcoin and Ethereum, currently ranked as the 12th biggest cryptocurrency in the world.

Airdrops and Hyperliquid’s Growth

Hyperliquid itself has been a hot topic because of its huge trading volume, reaching $11 billion in perpetuals. Plus, users are collecting rewards and points through various protocols, which adds to the excitement around the ecosystem. 

Many believe that HYPE has more room to grow, especially with rumors of another airdrop in the air.