🚀 Hyperliquid (HYPE) Skyrockets After Crypto Whale Gobbles Up $8.66M in Tokens
A single whale just dumped $8.66 million into Hyperliquid (HYPE)—and the market's frothing at the mouth.
### Whale Watch: Big Money Moves Markets
When crypto whales flex, altcoins dance. This eight-figure buy sent HYPE into overdrive, proving once again that decentralized markets still bow to centralized pockets.
### The Cynic's Corner
Another day, another 'organic' pump fueled by a single entity playing monopoly with real money. At least the plebs riding the wave get some scraps.
TLDR
- A whale bought 215,850 HYPE tokens worth $8.66 million, helping the token reclaim $40 with a 6.58% gain
- Futures traders are opening long positions with funding rates rising to 0.0084% and open interest up 4% to $1.84 billion
- Trading volume hit $1.56 billion, the highest since June 26, showing increased market activity
- HYPE is trading in an ascending triangle pattern near resistance, with potential to reach its $45.80 all-time high
- The token currently trades around $38-39, about 12% below its June peak, with market cap at $12 billion
Hyperliquid’s native token HYPE has regained momentum after a large investor purchased over 200,000 tokens worth $8.66 million. The buy helped push HYPE above $40 with a 6.58% gain in the past 24 hours.
The whale responsible for this purchase has previously made $8.44 million in profits trading HYPE. This investor acquired 215,850 HYPE tokens in a single transaction, adding fresh liquidity to the market.
HYPE currently trades around $38-39, approximately 12% below its all-time high of $45.80 set on June 16, 2025. The token’s circulating market cap stands at roughly $12 billion.
The whale’s entry appears to have influenced broader market sentiment. Futures traders are now opening long positions in anticipation of further price gains.
Data from CoinGlass shows HYPE’s funding rate has climbed to 0.0084% over the past 24 hours. A positive and rising funding rate typically indicates buying pressure exceeds selling pressure in the futures market.
Open interest has increased by 4% to $1.84 billion, reflecting more active trading contracts. This uptick in liquidity suggests renewed bullish momentum among market participants.
Futures Market Shows Growing Interest
Trading volume has reached $1.56 billion, marking its highest point since June 26. The surge in volume alongside price movement indicates increased trading activity across the platform.
The combination of rising funding rates and increased open interest points to growing confidence among derivatives traders. More positions are being opened as traders bet on continued upward movement.
Hyperliquid has seen strong capital inflows overall, with bridge deposits rising from $500 million in late 2024 to nearly $4 billion. The platform now processes over 75% of decentralized perpetuals trading volume.
Technical analysis reveals HYPE is trading within an ascending triangle pattern. This bullish formation features a rising support line and horizontal resistance level.
Price Action Approaches Critical Level
The token has approached the resistance zone of this triangle pattern. If buying pressure surpasses selling at this level, HYPE could reclaim its all-time high of $45.80.
A successful breakout could drive the token up to $56, representing a potential 41% increase from current levels. However, failure to break resistance could keep HYPE confined within the triangle pattern.
The platform continues to expand its ecosystem with new integrations and technical upgrades. Two major developments include CoreWriter and the HIP-3 proposal for permissionless perpetual markets.
Over the past week, HYPE has fluctuated between $35.50 and $41.02. The token’s relative strength index sits at 56.97, indicating room for further gains.
The whale’s $8.66 million purchase represents the latest in a series of large trades on the platform, with recent reports of positions worth hundreds of millions of dollars.
