- Binance is once again teasing a potential listing of Hyperliquid (HYPE), fueling price gains and increased whale accumulation.
- Meanwhile, Wynn is urging Binance founder Changpeng Zhao to launch a privacy-focused “dark pool” DEX, which he believes could replace Hyperliquid entirely.
The crypto community is abuzz as Binance appears to be teasing yet another listing of Hyperliquid (HYPE), one of the fastest-growing decentralized exchanges (DEXs) in the space.
This latest hint has reignited speculation about HYPE’s potential listing on Binance.US, triggering a 2% price increase in the HYPE token and a 20% surge in trading volume, pushing it to $150 million within 24 hours.
At the time of writing, HYPE is swapping hands with $37.37 after a 5.52% surge in the past 24 hours.
Whale activity surrounding HYPE has intensified. According to Spot On Chain, multiple large investors have accumulated HYPE tokens worth millions in recent hours, suggesting heightened institutional interest. Whale wallets identified as “0xd83,” “0x9E8,” and “0xab6” collectively invested over $4.9 million in HYPE, further validating bullish sentiment following Binance’s promotional nod.
Hyperliquid’s rapid rise is tied to its reputation as a reliable perpetual futures and spot trading platform. The DEX, powered by its own Layer 1 blockchain, has gained a strong foothold due to fast, low-cost transactions and a recent doubling of its Total Value Locked (TVL), according to DeFi Llama. The rise in popularity coincided with high-profile trades from James Wynn, a crypto trader known for placing multi-million-dollar leveraged bets.
However, despite benefiting from Wynn’s activity, Hyperliquid has refused his partnership proposals, citing its decentralized nature. Wynn, in turn, has criticized the platform’s referral program, claiming he earned just $34,000 despite generating significant volume and sign-ups. “Their referral program sucks,” Wynn wrote on X, adding that other exchanges offer far superior incentives.
Hey @cz_binance does this mean Binance is about to list $HYPE spot soon? https://t.co/e7Qk1RGtJ0
— Arthur Hayes (@CryptoHayes) June 9, 2025
Frustrated, Wynn is now calling for a rival platform to emerge, going as far as urging Binance founder Changpeng Zhao (CZ) to launch a privacy-focused “dark pool” DEX to rival and potentially “end” Hyperliquid. CZ recently proposed such a model to protect retail traders from frontrunning and MEV attacks—a vulnerability DEXs like Hyperliquid are increasingly exposed to.
“The rise of new platforms with better incentives will be the end of Hyperliquid,” said Wynn, reiterating his call for Binance to build a competitor. While CZ has yet to confirm any development, Wynn’s comments have ignited speculation about the future of DEXs and the role centralized giants might play in their evolution.
Despite the controversy, HYPE remains resilient. With trading volumes up, price holding steady, and whales accumulating, the market sees potential. Whether Binance lists HYPE soon or launches its own competitor, one thing is clear: the battle for dominance in decentralized trading is just heating up.