Kucoin to list Hyperliquid ($HYPE) token.

KuCoin has announced that it will list the native token of the Hyperliquid ecosystem, HYPE, on its spot trading platform, adding centralized exchange access to one of the largest new DeFi assets by market capitalization. The listing introduces the HYPE/USDT trading pair and supports KuCoin trading bots for that pair, expanding liquidity avenues for HYPE beyond the project’s own app and existing exchange listings. Deposits for HYPE on KuCoin are open immediately, with trading scheduled to begin at 15:00 UTC on December 7, 2024 and withdrawals enabled from 10:00 UTC on December 8, 2024. Hyperliquid is a decentralized exchange (DEX) built on its own Layer-1 blockchain, focused on high-speed perpetual derivatives trading with low fees and advanced tooling. Its HYPE token functions as the network’s native asset, used for governance, transaction fees, and staking rewards, with a total supply of 1 billion tokens and a large initial airdrop of 310 million HYPE (31% of supply) distributed to nearly 100,000 users on November 29, 2024. KuCoin’s announcement notes a specific network requirement: activating a HYPE deposit address on KuCoin incurs a one-time activation fee of 2 USDT or USDC, and the exchange currently only accepts HYPE deposits transferred from the official Hyperliquid app rather than other wallets. Users who activate a HYPE deposit address on KuCoin by December 31, 2024 are eligible for a 50 USDT spot trading fee discount coupon, distributed within three business days after activation. The listing is significant because HYPE has rapidly grown into a major asset by market cap, ranking among the largest crypto tokens and attracting substantial derivatives trading interest. Centralized exchange support from a top-tier platform like KuCoin broadens access for users who previously interacted with HYPE primarily through Hyperliquid’s own app or on-chain venues, potentially deepening liquidity and integrating the token more fully into the broader crypto trading infrastructure. It also illustrates a feedback loop where successful DeFi-native protocols and their tokens, once battle-tested on-chain and through large-scale airdrops, are increasingly picked up by centralized exchanges, blurring the line between on-chain and centralized liquidity for leading derivatives-focused projects. "entities":["KuCoin","Hyperliquid","HYPE","Hyperliquid (HYPE)","Hyperliquid App"]}`

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