Deposits and withdrawals are expected to open within an hour of Upbit’s announcement, though trading could be delayed if the exchange does not secure enough liquidity. At 1:40 p.m. KST, Upbit listed a reference price of 99,608 won ($74.03), about 2.4% below the previous day’s close of 102,048 won ($75.81). The figures were published before HYPE trading was due to start.
Upbit will block buy orders for about five minutes after launch and restrict sell orders priced more than 10% below the previous close during that period. CoinMarketCap pricing will be used to set the limits. For roughly two hours after trading opens, users may place only limit orders; other order types and conditional orders will become available afterward.
Transfers over networks other than HyperEVM will not be supported. Upbit requires users moving HYPE from external exchanges to meet its travel rule requirements. Transfers from providers outside the exchange’s approved list may not be credited, and personal wallet transfers require prior ownership verification. The exchange may also seek information on the source of large deposits with unclear origins. Its policy sets a 100 million won equivalent per-transaction withdrawal limit on the twentieth business day, counted from the business day after trading support begins.
The listing adds another centralized exchange venue for HYPE as Hyperliquid develops its onchain derivatives business. Its layer-1 blockchain uses HyperCore for perpetual futures, spot trading, order books, margin management and liquidations. HyperEVM supports Ethereum-compatible smart contracts, while the HYPE token is used for staking and transaction fees. Hyperliquid has also been expanding developer-operated derivatives markets through its HIP-3 framework, including permissioned markets introduced on testnet in September.
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