Binance resumes HYPE withdrawals, but how will altcoin navigate $77.6M in shorts?

Hyperliquid emerged as the most-viewed token in the last 24 hours, followed by Kinetiq [KNTQ], Bitcoin [BTC], and Pudgy Penguins [PENGU], respectively. At press time, the altcoin was trading at $77, with its daily trading volume hitting $442 million. What spurred this interest though? Well, this spike in searches was fueled by some news from Binance. It announced the resumption of Hyperliquid [HYPE] and Aptos withdrawals following its late-October hack. It took the exchange 10 days to restart withdrawals. Back when it was announced, the halt in services frustrated users despite Hyperliquid chain not being directly involved. Binance rectified the issue, citing that withdrawals had been paused to prevent assets from getting stuck in processing and/or loss of funds.

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