Hyperliquid News Today: HYPE Whale's $40M Leveraged Bet Hangs in Balance as Liquidation Threat Looms

A major cryptocurrency whale identified by the address 0x082e has opened a highly leveraged $40.92 million long position in HYPE, the token underpinning decentralized exchange Hyperliquid, according to blockchain analytics from The Crypto Basic. The trader initiated a 5x leveraged bet at an average price of $38.85, amassing over 1 million HYPE tokens. With the token trading near $40.20, the position holds an unrealized profit of approximately $1.38 million. The liquidation price is set at $22.34, reflecting a high-conviction bet on continued upward momentum. This move coincides with Hyperliquid Strategies' broader $1 billion equity raise, as the firm seeks to strengthen its balance sheet and expand HYPE token holdings, the article reported.

HYPE has surged over 10% in the past 24 hours, pushing its market capitalization to $13.45 billion and securing its position as the 11th-largest cryptocurrency globally, as reported by The Crypto Basic. The token's rally has drawn attention from institutional players, including a separate whale (address starting with 0x3fc) that opened a $9.05 million ETH long position with 12x leverage, according to Lookonchain data. Meanwhile, Huang Licheng, another prominent trader, recently trimmed ETH and HYPE long positions, reducing exposure by $600,000 while maintaining a remaining ETH position valued at $9.55 million with a floating return exceeding 110%, per a Lookonchain update.

Hyperliquid Strategies' equity offering, led by Chardan Capital Markets, includes plans to issue up to 160 million shares and is part of a broader corporate restructuring. The firm is nearing the completion of a merger with Sonnet BioTherapeutics and special-purpose acquisition company Rorschach I LLC, which will create a new entity trading on Nasdaq under an undisclosed ticker, the article noted. Leadership appointments, including Barclays' Bob Diamond as chairman and David Schamis as CEO, have already been finalized. The merged entity currently holds 12.6 million HYPE tokens and $305 million in cash, which will be allocated to staking activities for long-term yield generation, the report added.

Technical analysis suggests HYPE remains in a bullish setup, with price action forming a falling wedge pattern on the 4-hour chart, according to a crypto.news analysis. A breakout above the $41–$42 resistance level could trigger a 54% rally toward $61.50, supported by strong Aroon indicators and a 24-hour liquidation heatmap showing concentrated short positions in this range. The report also notes support is eyed at $36–$38, where significant liquidation activity could stabilize the price if a pullback occurs.

The crypto market's divergent sentiment is further highlighted by a separate $31.84 million Bitcoin short position on Hyperliquid, held by wallet 0xdDc7 at a liquidation price of $118,344, the article reported. While the short is currently at a loss, the trader maintains an 80% win rate across 20 trades on the platform.