A cryptocurrency whale transferred 19.38 million USD Coin (USDC) to purchase HYPE Tokens on the HyperLiquid platform.
Currently, this whale holds 555,608 HYPE worth over 25.62 million USD and 2.16 million FARTCOIN Tokens valued at approximately 2.026 million USD, while also keeping buy orders for HYPE in the price range of 45 to 46.05 USD.
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The whale deposited 19.38 million USDC to buy HYPE on HyperLiquid.
The current amount of HYPE held by the whale reaches 555,608 Tokens worth 25.62 million USD.
The whale also holds 2.16 million FARTCOIN while placing buy orders for HYPE at prices from 45 to 46.05 USD.
How have cryptocurrency whales acted on HyperLiquid?
According to monitoring data from Onchain Lens on August 17, a whale deposited approximately 19.38 million USDC into HyperLiquid to invest in HYPE Tokens. This is a large liquidity transaction, demonstrating the strength and determination of major investors in the cryptocurrency market.
The fact that this whale holds over 555,000 HYPE equivalent to 25.62 million USD indicates long-term confidence in the potential of the Token, while also continuing to increase its position through buy orders in the 45 – 46.05 USD range.
What is the current value and position of this whale?
Currently, whales are holding a total of 555,608 HYPE with an estimated value of over 25.62 million USD along with 2.16 million FARTCOIN worth approximately 2.026 million USD. Diversification in the portfolio helps optimize profitability and manage risk.
The open buy orders around the 45 – 46.05 USD level indicate that whales anticipate HYPE prices will grow in the near future, while also preparing to accumulate more Tokens in this strategic price range.
Such large-scale investments reflect strong confidence in the potential and sustainable growth capabilities of the HYPE Token in the market.
Cryptocurrency market analysis expert, 2024
Why are whale actions important to the cryptocurrency market?
Large buy actions by whales often significantly impact price volatility and market sentiment in the cryptocurrency space. Whales can create upward price trends due to their substantial capital and stimulate cash flow.
However, retail investors need to observe carefully and conduct technical analysis to avoid being affected by temporary fluctuations or pump and dump phenomena that pose risks.
Frequently asked questions
What is a cryptocurrency whale?
Cryptocurrency whales are investors or organizations holding large amounts of Tokens, which can significantly impact prices and the market.
How does whale purchasing HYPE affect the Token price?
The large purchase amount by whales can drive up the Token price due to changes in supply and demand, creating a market confidence effect.
What is USDC and why is it used in this transaction?
USDC is a stablecoin with a value equivalent to 1 USD, usually used for safe trading and money transfers, avoiding price volatility.
How to check whale activities on the Blockchain?
Onchain monitoring tools like Onchain Lens can be used to track whale wallet movements and large transactions.
What does FARTCOIN mean in the whale's portfolio?
FARTCOIN is a supporting Token in the portfolio, helping to diversify and develop more diverse investment opportunities.
Source: https://tintucbitcoin.com/ca-voi-nap-1938-trieu-usdc/
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