Whale buys 215K HYPE for $8.66M, fueling price momentum this week.
Hyperliquid trading volume hit $3B after six months of steady gains.
HYPE climbs 7% to $40.57 with 24h volume spiking 22.69% to $284M.
HYPE token has rallied to $40.57 after sustained buying pressure, up 7.03% this week with strong on-chain activity. A whale added over 215,000 HYPE in just three hours, further spotlighting Hyperliquid's growing market footprint.
Whale Wallet Makes $8.66M HYPE Accumulation in 3 Hours
According to Spot On Chain, a wallet deposited $8.77 million in USDC and immediately deployed $8.66 million to buy 215,850 HYPE tokens. The tokens were purchased at an average price of $40.121 each, placing the wallet's position at rank 76.
https://twitter.com/spotonchain/status/1940574392272278012
This wallet reflects high-frequency trading and deep platform engagement. Its lifetime PnL sits at $8.84 million, with 24-hour gains reaching $20,072. However, the 30-day PnL remains negative at -$1.13 million, revealing some short-term drawdowns.
Despite current unrealized losses of $2,165.19 on the HYPE position, the wallet retains over $8.79 million in assets. It holds USDC valued at $129,571.63 alongside the larger HYPE stake, confirming active capital allocation.
Hyperliquid Volume Momentum Builds Over 6 Consecutive Months
Trading volume on Hyperliquid has risen for six months straight. As shown in a chart by LennaertSnyder, volume climbed from below $1 billion in early April to over $3 billion in June.
Volume started weak in January through March, averaging just above $1 billion. However, May showed strong pickup, and June confirmed a breakout, positioning Hyperliquid as a growing venue for institutional flows.
Total platform volume now stands at $47.7 billion. This confirms sustained user engagement across market participants and increasing liquidity across spot and derivatives orders.
HYPE Ranks 11 on CoinMarketCap as Price Rebounds
On CoinMarketCap, HYPE has reached $40.57, marking a 7.03% gain over the past 7 days. The token rebounded from a low of $37.22 on June 27 to retest $41.00 before consolidating.
Its market cap sits at $13.54 billion, while its fully diluted valuation is $40.57 billion. Unlocked market cap trails slightly at $12.6 billion, suggesting additional token distributions are still unfolding.
The 24-hour volume surged 22.69% to hit $284.9 million. Circulating supply is now 333.92 million out of a max cap of 1 billion, indicating over 66% of the supply is already in market hands.
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