Hyperliquid’s $HYPE token has surged back into the spotlight, reclaiming its position as the 20th-largest cryptocurrency by market capitalization, overtaking $PEPE.
This resurgence has drawn significant interest from whales, with several high-profile purchases made in the past day.
Major Whale Activity
– Whale “0x007” bridged and spent $3.96 million in USDC nine hours ago to acquire 151,277 $HYPE at an average price of $26.19.
– Whale “0x721” invested $2.6 million in USDC 11 hours ago to purchase 99,546 $HYPE at an average price of $26.14. This address now holds 107,198 $HYPE, valued at $2.76 million, and boasts an all-time profit of $3.33 million from trading Hyperliquid.
– Whale “0x602” bridged $2 million in USDC and used $911,000 of it over the last 20 hours to buy 37,017 $HYPE at an average price of $24.6.
Whales are accumulating $HYPE as #Hyperliquid reclaims its spot as the 20th-largest token by market cap from $PEPE today!
1/ Whale “0x007” bridged and spent 3.96M $USDC to buy 151,277 $HYPE at ~$26.19, 9 hours ago.
2/ Whale “0x721” spent 2.6M $USDC to buy 99,546 $HYPE at… pic.twitter.com/tFgjF823LY
— Spot On Chain (@spotonchain) January 2, 2025
Staking and Market Impact
Currently, 23.8% of $HYPE’s circulating supply—nearly 8% of the total supply—has been staked within just three days. To put this into perspective, 28% of Ethereum’s total supply is staked, underscoring the rapid adoption of $HYPE in the staking ecosystem.
Hyperliquid’s market cap has now surpassed that of $UNI, cementing its status as the leading protocol in the trading category. With growing whale activity and increasing staking participation, $HYPE continues to gain traction in the crypto market, signaling robust community support and investor confidence.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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