Bybit Expands DeFi Offerings with BASED Token Listing
Cryptocurrency exchange Bybit has announced it will soon launch spot trading for the Based (BASED) token. This listing integrates an asset from the Hyperliquid ecosystem onto a major centralized platform, a move poised to significantly enhance the token's liquidity, trading volume, and overall market exposure. For emerging tokens like BASED, such listings are critical milestones that provide credibility and attract a broader range of speculative and long-term investors who operate primarily on centralized exchanges.
Listing Bolsters Hyperliquid Ecosystem with Over $44M in On-Chain Value
The BASED token operates within the Hyperliquid ecosystem, a layer-one blockchain designed for high-frequency on-chain trading. The listing serves as a key validation for this growing platform. Publicly traded companies building on Hyperliquid, like Hyperion DeFi (NASDAQ: HYPD), underscore the increasing institutional interest in the ecosystem. In its fourth quarter of 2025, Hyperion DeFi reported an adjusted gross profit of $821,000, an 87% increase quarter-over-quarter, and held a net asset value of $44.1 million as of December 31, 2025. Bybit's decision to list an affiliated token signals confidence in the underlying technology and economic activity of the Hyperliquid network.
Move Aligns with Exchange Strategy to Bridge CeFi-DeFi
This listing is consistent with Bybit's strategic focus on connecting the worlds of centralized (CeFi) and decentralized finance (DeFi). The exchange has been actively expanding its Web3 tools to allow users to move assets on-chain and interact with DeFi protocols, all while maintaining access to deep liquidity on its centralized platform. By supporting a token from an innovative DeFi ecosystem like Hyperliquid, Bybit reinforces its position as a key gateway for investors seeking exposure to next-generation blockchain projects beyond established assets.
