Analyst Claims Paradigm Holds $765 Million Worth of Hyperliquid Tokens

Paradigm, a major investment fund, reportedly holds approximately $765 million in HYPE, the native token of Hyperliquid. This represents roughly 6% of the token's circulating supply. While Paradigm has not confirmed the figure, such a significant position could signal strong confidence in the project—or pose a latent sell-off risk if market conditions shift.

Analyst MLM estimates Paradigm's average entry price at $16.46, implying an unrealized gain of $450 million at current prices. Hyperliquid's revenue growth has been staggering, with a 40% monthly increase pushing annualized revenue to $1.1 billion. Its off-chain order book technology has enabled $231 billion in monthly volume, surpassing even Robinhood.

Yet, short-term success doesn't guarantee long-term viability. The market will watch closely whether Paradigm's position is a strategic bet or a ticking time bomb.