HYPE Token Bounces Back as Whales Lock in Profits

Hyperliquid's HYPE token has been making waves in the crypto market after a sharp swing that shook both buyers and sellers. The token's price defended the $40 support zone and bounced back up to $42.80, showing early signs of stability.

A major on-chain move caught attention as a whale sold 213,419 HYPE for $8.93 million at $41.84, locking in around $2.8 million in profit. This wallet had accumulated 467,188 HYPE over two months, spending $16.63 million in total.

Despite the whale selling pressure, the market shows mixed signals, with steady inflows and continued buyer activity. Hyperliquid recorded about $17 million in daily inflows according to DeFiLlama, while exchange flow data also supports accumulation trends.