Kraken lists HYPE for trading

Kraken has made HYPE, the native token of Hyperliquid, available for trading, with trading live on 27 January.

The company said in a statement that funding and trading for HYPE are active and provided deposit instructions: navigate to Funding, select the asset, and hit 'Deposit'. It said deposits must be made using networks supported by Kraken; deposits made using other networks will be lost.

According to the release, Hyperliquid is a performant Layer 1 blockchain built to support an on-chain open financial system and uses a custom consensus algorithm called HyperBFT. The company said HyperCore includes fully on-chain perpetual futures and spot order books where every order, cancel, trade, and liquidation is recorded transparently with sub-second finality, and that the chain currently supports 200,000 orders per second.

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The company said HyperEVM brings EVM compatibility to Hyperliquid and that HYPE is the native token used for securing the network through staking, participating in governance, and paying transaction fees.

It added that trading via the Kraken App and Instant Buy will be available once liquidity conditions are met, and that geographic restrictions may apply.

The Recap

• Kraken has listed Hyperliquid’s native token HYPE for trading.
• Hyperliquid’s chain supports 200,000 orders per second currently.
• App and Instant Buy will open after liquidity conditions are met.