Binance gives HYPE and TRX the same 75x cap – Which faces more risk?

Binance is rolling out two new perpetual contracts on the 11th of November – HYPEUSDC and TRXUSDC – both with up to 75x leverage, according to an exchange notice posted on its website. But the timing could not be more sensitive.

Just a day ago, on the 10th of November, Binance warned its users about an iOS flaw called “worse_query,” through which malicious actors can read seed phrases and private keys on the user’s Apple device.

Though no attacks have been confirmed, the warning has done nothing to help investor sentiment. Similarly, this news has done nothing to boost expectations around Hyperliquid [HYPE] and Tron [TRX] as well, which were already struggling before the announcement.

Why HYPE can be the first to fall

HYPE is down 3.4% over the last 24 hours and 14.7% over the past week. It was trading at $72.15 at press time, per CoinGecko. Meanwhile, the Long/Short Ratio was 2.62, implying that traders are betting against the downtrend.

If price keeps sliding, leveraged longs will get liquidated, potentially leading to a liquidation cascade. It is safe to assume that a 75x contract doesn’t fix anything if HYPE cannot recover on its own.

TRX refuses to budge

Per AMBCrypto’s look at TradingView’s 1M chart, TRX has just been consolidating near $0.31–$0.35.

Currently, RSI is at 60.27, showing that buyers have had the upper hand recently. The price is not overbought yet, and TRX has more scope to rise.

At press time, Tron’s Open Interest was stagnant at 165.3 million as well, showing a lean toward sellers – but there’s nothing decisive yet. TRON is showing no breakout, no breakdown, and no clear signal.

So, even if the new contract brings some extra volume, one can safely assume that Tron’s consolidation will continue.

Will anything change?

HYPE faces real selling pressure that is not affected by the Binance news regardless. But still, the new contract could act as a trigger for a cascade. TRX, on the other hand, continues to look rangebound – and a new perp listing probably won’t change things for it anytime soon.

Final Summary

• Binance launched two new 75x perpetual contracts while warning users about an iOS flaw that could expose private keys. Sentiment has already been shaky, so this news was not received bullishly.
• HYPE’s downtrend and crowded shorts make a liquidation cascade plausible. On the other hand, TRX lacks direction and may keep ranging.