What is Kraken Wrapped HYPE (KHYPE)?
kHYPE is a wrapped token issued by Kraken, backed 1:1 by native HYPE held in custody by Kraken Financial, a Wyoming-chartered SPDI (Special Purpose Depository Institution). Clients withdraw HYPE from Kraken as kHYPE on Ink, and can post it as collateral on Tydro to borrow USDC. Depositing kHYPE converts it back to HYPE 1:1. kHYPE is not tradeable on the Kraken exchange — the only way to acquire or exit it is via withdrawal/deposit.
Where can you buy Kraken Wrapped HYPE?
Kraken Wrapped HYPE (KHYPE) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for KHYPE sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
The price and 24-hour volume on this page combine the exchanges ReadPrices tracks for KHYPE. Before you trade, compare the fee schedule and the order-book depth on the venue you plan to use: the same coin can cost noticeably more to buy on a thin market.