Crypto Whales Invest $5M in Hyperliquid’s $HYPE Token

Two crypto whales have invested a total of $5 million in $HYPE, the native token of decentralized perpetual futures exchange Hyperliquid. Wallet 0x005a bought 110,824 $HYPE at $36 using $3.99 million USDC and opened a 4x leveraged long position. Meanwhile, 0x75AE purchased 27,773 $HYPE at $36.5 with $1.01 million USDC and staked the tokens.

$HYPE follows a deflationary model, burning 26% of its total supply annually to increase scarcity. This mechanism likely drives bullish sentiment among whales, especially given Hyperliquid’s advanced features such as deep liquidity and automated risk management.

Whale activity on Hyperliquid often fuels significant volatility. For example, OneSafe reported a $26 million profit from short positions. Highly leveraged positions like 0x005a’s can lead to rapid price swings and increase liquidation risk for smaller traders.

https://hypurrscan.io/address/0x005ac3113b473fe2297a506d1b830063e46d5ccf

https://hypurrscan.io/address/0x75AE08eE88BfD59C2228206905ddb694c30E329f