Altcoins News
By Evie Vavasseur
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In a striking show of confidence, a crypto whale has made a major move on Hyperliquid [HYPE], accumulating over $6 million worth of tokens across two wallets.
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According to on-chain data, the whale acquired a total of 170,904 HYPE tokens, with one of the major transactions involving a $3 million USDC deposit.
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At press time, HYPE was trading at $36.62, down 2.57% on the day. However, the whale’s aggressive accumulation points to strong bullish conviction.
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Technical indicators and volume patterns also support this bullish narrative. Notably, HYPE has seen spikes in volume on days of positive price action, a sign that buyers are…
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Despite this optimistic outlook, caution still lingers in the derivatives market. Over the past 24 hours, trading volume has dipped by 4.75% to $1.
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Rather than signaling weakness, this cooldown reflects a typical market pause following an extended rally.
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The liquidation heatmap adds further weight to the bullish case. Data reveals dense clusters of liquidation levels around the $38 to $40 range.
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On the downside, liquidation pressure remains relatively light below $34, with significantly less dense liquidity.
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Funding data also supports a neutral-to-bullish outlook. The OI-weighted funding rate currently sits at 0.
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What makes this setup particularly compelling is that the recent whale accumulation appears to be driven by spot demand, not leverage.
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Altogether, the alignment of whale buying, strong technical support, and stable derivatives sentiment points toward the possibility of a breakout.
The Currency Analytics
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