Institutional Whales Move $8.47M to HYPE as Confidence Grows

In the past 12 hours, two significant whale addresses have acquired 175,130 HYPE tokens, representing a total value of approximately $8.47 million, as reported by on-chain analytics and market observers. This large-scale accumulation comes amid heightened trading activity on Hyperliquid’s decentralized exchange (DEX), where HYPE tokens have been outperforming broader crypto markets. The purchases suggest strong institutional or high-net-worth investor interest in HYPE, potentially signaling confidence in the token’s recent performance and the underlying platform's growth trajectory.

Hyperliquid, the L1 blockchain optimized for high-performance financial applications, has seen its native token HYPE hit record highs in recent days. On August 27, HYPE reached an all-time high above $50, rising 8% within 24 hours. This surge was attributed to record derivatives trading volume on the platform, which hit $357 billion in August. The exchange generated $105 million in trading fees during the same period, much of which was directed toward an automated token buyback program managed by the Hyperliquid Assistance Fund. Since its inception in January, the fund has grown from holding 3 million HYPE tokens to 29.8 million, with a market value exceeding $1.5 billion.

The whale activity in HYPE follows a broader trend of on-chain accumulation by large investors in the crypto space. Recent on-chain data from analysts such as @EmberCN and @ai_9684xtpa revealed that whales are increasingly moving capital from centralized exchanges like Coinbase to decentralized platforms such as Hyperliquid, where they can execute large-scale trades with minimal slippage and increased privacy. For instance, a wallet linked to @ai_9684xtpa withdrew $10 million in USDC from Coinbase and used it to purchase approximately $9 million of HYPE on Hyperliquid, while also placing a $1 million limit order at $49.306. This move is seen as a bullish signal by many analysts, who interpret such actions as long-term positioning in the token.

HYPE’s performance has also been buoyed by broader market conditions, including a short squeeze in the $XLP token, which contributed to increased volatility and buying pressure across related assets. Analysts at ByteTree have highlighted Hyperliquid as one of the most compelling protocols in decentralized finance (DeFi), citing its strong fundamentals and ability to consistently generate high trading fees. As of August 27, HYPE’s 24-hour trading volume on Hyperliquid alone reached $187 million for the HYPE/USDC pair, underscoring the platform’s growing role as a key liquidity hub for the token.

The token’s valuation metrics also reflect robust growth. HYPE’s current market capitalization stands at approximately $14.76 billion, with a fully diluted valuation (FDV) of $44.21 billion, based on the token’s current price and max supply. Analysts note that while the token’s valuation is currently supported by strong on-chain activity and token buybacks, future price movements may be influenced by scheduled token unlocks in November, which could introduce additional selling pressure. Despite these risks, many market participants continue to view HYPE as a high-conviction investment, particularly given its role in the rapidly expanding DeFi and derivatives markets.

Overall, the recent whale accumulation and market performance of HYPE indicate a growing institutional interest in Hyperliquid’s ecosystem. As the token continues to benefit from high trading volumes, automated buybacks, and strategic on-chain activity, it remains one of the most closely watched assets in the DeFi space. Market observers will be watching closely for further developments, including any major price swings or additional large-scale purchases that could shape HYPE’s trajectory in the coming weeks.

Source:

[1] Hyperliquid Price: HYPE Live Price Chart, Market Cap & (https://www.coingecko.com/en/coins/hyperliquid)

[2] Hyperliquid Price, HYPE Price, Live Charts, and Marketcap (https://www.coinbase.com/price/hyperliquid)

[3] HYPE Hits ATH as Trading Surges (https://www.coindesk.com/markets/2025/08/27/hyperliquid-s-hype-hits-record-high-above-usd50-on-trading-boom-token-buybacks)

[4] $HYPE Hits New High After $XLP Short Squeeze: Whale Withdraws $10M USDC From Coinbase to Buy on Hyperliquid, Leaves $1M Bid at $49.306 (https://blockchain.news/flashnews/hype-hits-new-high-after-xlp-short-squeeze-whale-withdraws-10m-usdc-from-coinbase-to-buy-on-hyperliquid-leaves-1m-bid-at-49-306)

[5] Data: A certain whale has bought another 10 million dollars (https://www.chaincatcher.com/en/article/2201294)