Hyperliquid (HYPE) hit a record high of over $64 on Sunday. Data shows that while some large investors were buying millions of dollars worth of the token, others were selling their holdings.
The cryptocurrency’s value has surged by over 40% in the last week, currently trading at $63.7, a slight increase of 0.53% from yesterday, according to BeInCrypto Markets data.
Whales Pour Millions Into Hyperliquid While Others Cash Out at Highs
As I’ve been tracking on-chain data via Lookonchain, I noticed a significant purchase of HYPE tokens. Wallet 0x9137 just spent $15.1 million in USDC to buy 238,811 HYPE, averaging a price of $63.25 per token. Separately, a brand new wallet withdrew $4.06 million worth of HYPE – specifically 63,780 tokens – from the Bybit exchange. It’s interesting to see this combined activity.
Arthur Hayes, a co-founder of BitMEX, seems to have changed his stance on HYPE. According to Lookonchain, a wallet believed to be associated with Hayes first deposited $6.33 million worth of HYPE ($115,453) into Bybit at a price of $54.81 per HYPE. Later, the same wallet withdrew $5.37 million worth of HYPE (85,714) from Bybit, at a price of $62.69 per HYPE.
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Over the last four days, Garrett Jin has earned 145,050 HYPE tokens, currently valued at $9.05 million. He’s also placed an order to purchase an additional 39,940 tokens, worth $2.44 million, using a method that considers price over time.
According to Lookonchain, he continues to hold Bitcoin worth $38.9 million and has a short position in Zcash valued at $38 million, resulting in a current loss of $2.11 million.
While many large investors drove the price up, one notable wallet, 0x632B, took profits. It sold $9.25 million worth of HYPE tokens – 151,574 in total – and also set up orders to sell another 170,000 tokens if the price reaches between $63.45 and $70.55.
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A trader who bet against the price of $HYPE (known as ‘shorting’ it) is now covering their bet and selling their holdings as the price goes up. They’ve already unlocked and sold $27 million worth of $HYPE, with another $13 million currently being sold. They still have a remaining short position worth $8.67 million.
— Lookonchain (@lookonchain) May 25, 2026
The next price movement will depend on whether enough people continue to buy to balance out those who are selling to take profits at these prices.
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2026-05-25 19:35