Hyperliquid Whales Show Conflicting Moves as HYPE Hits Fresh Peak

Hyperliquid (HYPE) reached a new all-time high of over $64 on Sunday as on-chain trackers documented sharply contrasting whale behavior across the rally. Some wallets added millions in fresh exposure while others cashed out. 

The token climbed more than 40% over the past week. According to the latest data from BeInCrypto Markets, the altcoin traded at $63.7, up over 0.53% over the past day.

Hyperliquid (HYPE) Price Performance. Source: BeInCrypto Markets

Whales Pour Millions Into Hyperliquid While Others Cash Out at Highs

Wallet 0x9137 spent $15.1 million in USDC (USDC) to acquire 238,811 HYPE at $63.25, according to Lookonchain data. A newly created wallet separately withdrew 63,780 HYPE worth $4.06 million from Bybit.

BitMEX co-founder Arthur Hayes appears to have reversed his earlier position. Lookonchain reported that a wallet linked to Hayes deposited 115,453 HYPE worth $6.33 million into Bybit at $54.81. The same address later withdrew 85,714 HYPE worth $5.37 million from the exchange at $62.69.

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Moreover, Garrett Jin has accumulated 145,050 HYPE tokens, worth $9.05 million, over the past four days. He also placed a time-weighted average price order to buy another 39,940 tokens worth $2.44 million.

“He still holds a 504.4 BTC ($38.9M) long and a 57,460 ZEC ($38M) short, currently down $2.11M,” Lookonchain added.

However, not every whale chased the rally higher. Wallet 0x632B sold 151,574 HYPE worth $9.25 million. The same address queued limit sell orders for another 170,000 tokens between $63.45 and $70.55.

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Whether continued buying offsets profit-taking near the current price levels will shape the next move.

The post Hyperliquid Whales Show Conflicting Moves as HYPE Hits Fresh Peak appeared first on BeInCrypto.