HYPE is listing on Upbit, but before Koreans have even started buying, the move is already over.
Binance perpetual 15-minute chart: The candle when the announcement dropped (12:45–13:00) saw $37.6 million in volume. A typical candle does $3–5 million, so that’s roughly ten times higher. Price rallied from the morning low of 73.67 to a high of 75.35 at 13:45, up just over 2%.
Then trading officially opened at 14:00 Beijing time, and the price actually dropped to 74.56. It’s now hovering around 74.6.
A listing on a major exchange = good news gets priced in. This pattern is especially reliable with Korean exchanges. As soon as the announcement drops, the quick movers rush in, and the opening is their exit. Don’t forget that yesterday a whale transferred 512,000 HYPE to FalconX, with a cost basis around 44.8. This is exactly the kind of liquidity they were waiting for.
HYPE/KRW trading on Bithumb opens at 15:00. If you’re thinking of chasing a second wave, weigh it carefully.
#HYPE
Binance perpetual 15-minute chart: The candle when the announcement dropped (12:45–13:00) saw $37.6 million in volume. A typical candle does $3–5 million, so that’s roughly ten times higher. Price rallied from the morning low of 73.67 to a high of 75.35 at 13:45, up just over 2%.
Then trading officially opened at 14:00 Beijing time, and the price actually dropped to 74.56. It’s now hovering around 74.6.
A listing on a major exchange = good news gets priced in. This pattern is especially reliable with Korean exchanges. As soon as the announcement drops, the quick movers rush in, and the opening is their exit. Don’t forget that yesterday a whale transferred 512,000 HYPE to FalconX, with a cost basis around 44.8. This is exactly the kind of liquidity they were waiting for.
HYPE/KRW trading on Bithumb opens at 15:00. If you’re thinking of chasing a second wave, weigh it carefully.
#HYPE
