Hype Builds Around Hyperliquid's Token Amid Whale Accumulation

Hyperliquid's HYPE token has been gaining attention from traders due to aggressive buying by whales and solid on-chain numbers. According to data from Arkham and Lookonchain, big traders and smart-money wallets have been piling into HYPE in recent days.

BHYP has staked $15.45 million worth of HYPE so far, while Bitwise and 21Shares ETFs bought $16.1 million worth of HYPE in the past 24 hours, as per Arkham's data. Analyst Michaël van de Poppe notes that HYPE is an indicator of altcoin momentum, with 'every time when the markets are waking up, $HYPE moves first.'

With its explosive run in 2026, HYPE has broken above $57 and approached the $60-$62 range, lifting Hyperliquid's market cap into crypto's upper ranks. The protocol continues to process billions in daily trading volume ($1.47 billion in the last 24 hours) while maintaining a dominant market share in decentralized perpetuals trading.

The bullish sentiment comes as HYPE is seeing significant whale accumulation, with big traders buying aggressively and on-chain numbers looking solid. With Hyperliquid's growing ecosystem and expanding use cases beyond just trading, traders are optimistic about its potential to reach new heights.