Whales Spend $26M USDC to Buy 650k HYPE on Hyperliquid
Two on-chain whales have deployed over $26M USDC to accumulate 650,000 HYPE tokens on Hyperliquid in recent days. First, address 0xAD83D withdrew 10.19M USDC from HLP Vaults, deposited 5M USDC and purchased 114,872 HYPE (≈$5.58M), retaining 9.85M USDC for further buying. Then, addresses 0x5AE and 0x152 spent 21.06M USDC to buy 285,821 HYPE at $39.23 and 249,073 HYPE at $39.54, respectively, while holding reserves of 2.79M and 0.703M USDC. Both whales show slight unrealized losses but continue building HYPE positions. This sustained whale accumulation signals bullish momentum for HYPE and traders should monitor USDC reserves and large on-chain orders as key indicators.
Bullish
Large USDC purchases by whales indicate strong demand for HYPE on Hyperliquid, creating bullish pressure. In the short term, the influx of over $26M USDC and significant reserve balances should underpin price support and may trigger upward movements as on-chain orders execute. Over the long term, retained USDC reserves signal further accumulation intentions, which can sustain liquidity, attract additional traders, and reinforce a positive market outlook for HYPE.