Altcoins News
By Maheen Hernandez
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Hyperliquid’s native token, HYPE, has come under pressure recently, as a significant whale wallet offloaded 215,850 tokens at a reported $290,000 loss.
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According to on-chain data, daily token trading volume for HYPE dropped to $143.3 million—the lowest it has been in over three months.
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The recent whale sale stands out: Onchain Lens reports a single wallet unloading 215,850 HYPE for roughly $8.37 million, crystallizing a $290,000 loss.
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The derivatives market paints an equally cautious picture. Perpetual contract volume for HYPE has dropped from a recent high of $8.7 billion to $2.
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Despite growing pessimism, the market remains lethargic. Per recent analysis from AMBCrypto, technical indicators such as the Stochastic RSI and Relative Vigor Index (RVI)…
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This lack of decisive direction often precedes either a breakdown or a short-covering rally.
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When large whales exit at a loss, it often triggers a ripple effect. Other traders may panic and sell to avoid deeper losses, exacerbating price declines.
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Despite the current downtrend, Hyperliquid has had periods of strong momentum earlier this year.
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However, such pockets of enthusiasm have failed to translate into sustained price gains, partly due to the volatile token distribution schemes and periodic controversies.
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The token’s on-chain metrics reinforce this uncertainty. Total value locked (TVL) for Hyperliquid is down roughly 20 % year-to-date, currently hovering near $1.
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Without reliable catalysts, such as renewed whale accumulation or positive ecosystem updates (e.g.
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In summary, the recent whale dump and declining trading volume signal a cautionary environment for HYPE.
The Currency Analytics
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