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.

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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