The HYPE token from Hyperliquid is once again drawing the attention of crypto whales. With the price nearing the upper range of its recent trading channel, many believe the token is on the verge of another major breakout. Activity from three large wallets in recent days suggests growing interest—and growing market anticipation.
🔹 Whale Accumulation Signals Confidence
Two major whales allocated over $3.5 million to buy HYPE, with spot purchases executed directly on-chain. A third whale placed a limit buy order at $24.95, waiting for a potential dip to enter.
According to Nansen, these whale wallets hold significantly more HYPE than any other token in their portfolios. Notably, none of them are trading derivatives—they're solely accumulating on the spot market, indicating strong long-term conviction.
🔹 HYPE Gains Momentum as Meme & Utility Token
HYPE has gained traction not just as a native reward and liquidity token, but also as an emerging meme coin fueled by community excitement. On-chain transparency and whale transactions are drawing in more eyes as everything unfolds publicly.
Currently, HYPE is trading near $34.88, just below its all-time high. Over 53% of all HYPE trades are long positions, reflecting bullish sentiment among traders.
🔹 Hyperliquid Faces Its Own Stress Test
Despite the buzz, there are early signs of cooling. The platform’s stablecoin liquidity dropped from $2.9 billion USDC to $2.72 billion. Trading volume has also declined from a peak of $248 billion in May to $45 billion in June. Still, Hyperliquid remains a major force, making up roughly 45% of spot trading volume on Binance.
🔹 James Wynn Still Posting, Now With Smaller Positions
Risky trader James Wynn continues to share his hyper-liquidated positions—this time with significantly smaller collateral. After a prior $100 million liquidation, Wynn now trades with just hundreds of dollars, primarily to increase engagement and visibility on social media.
Wynn clarified that Hyperliquid does not sponsor him or provide direct incentives for his trades, though his actions have drawn considerable attention to the DEX. So far, he claims to have earned only $34,000 in referral income.
He remains bullish on Bitcoin and is now promoting a meme coin called Moonpig, highlighting the crossover between speculative trading and meme culture.
#hype , #CryptoWhales , #Hyperliquid , #JamesWynn , #CryptoInvesting
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