Another day, another cryptocurrency seeming to hum with activity. Enter $HYPE , the up-and-coming crypto asset connected with the Hyperliquid ecosystem, which, judging by the past 24 hours, looks like it might be on the verge of taking off. Three famous crypto wallet addresses have been making multi-million-dollar trades with $HYPE—something that smells profit-y in a big way. And in a seemingly coincidental or perhaps coordinated move, the price of $HYPE has been surging of late, which quite a few crypto-savvy individuals seem to think is a good thing. Major $HYPE Whale Activity Points to Renewed Confidence The accumulation of $HYPE by whale wallets is increasingly apparent, with an on-chain data analysis revealing the massive influx of capital. In a just-under-a-day timeframe, whales have transacted near $5 million worth of $HYPE. Collectively, that’s a lot to not take any notice of. And really, when you add up all of those components, it paints a ever-increasing bullish picture. No wonder $HYPE is now considered (by those in the know) as the next 1000x potential coin. About 18 hours ago, another well-known wallet, 0x9E8, did a huge deal worth $1 million USDC for 28,500 $HYPE, paying an average of $35.09 per token. The wallet now holds a total of 196,344 $HYPE, valued at around $6.87 million at today’s prices. This is the sort of behavior you see from whales before bullish rallies. Retail traders almost always follow whales when they do large purchases like this. Whales are buying $HYPE today! 1⃣ Whale "0xd83" spent $2.5M $USDC to buy the first 70,617.6 $HYPE at an avg. price of $35.40 ~ 2hrs ago. 2⃣ Whale "0x9E8" further spent $1M $USDC to buy 28,500 $HYPE at an avg. price of $35.09 ~18hrs ago, raising its holding to 196,344 $HYPE … pic.twitter.com/QP4xbhV2Wu — Spot On Chain (@spotonchain) June 9, 2025 Significantly, a new whale—address 0xab6—just recently waded into the crypto waters by placing a sizeable limit order to acquire 57,372 $HYPE at $24.95 each. If filled, that order would represent an outlay of $1.45 million. Even though the order hasn’t yet been executed, it does show that at least one major player appears to be interested in the token at a lower price level. On some level, another way to interpret this order is as a price cushion. Price Outlook: Will $HYPE Retest $39.10? This renewed buying pressure from whales shifts the focus to the immediate price potential of the token. $HYPE has previously tested a high of $39.10, and the current market signals suggest that this level might be touched again soon. Whales seem to have made purchases at average prices around the $35 range, which indicates that these investors might be anticipating a lot of upside from current levels. If buying momentum keeps up and the overall market is in good shape, $HYPE might punch through its old high and start to discover new price levels. The techs who trade this one are watching resistance levels, volume trends, and the size of the average wallet holding $HYPE for signals about when and how this might happen. High-value buyers express confidence in $HYPE, and that spells fundamental strength for its parent ecosystem, Hyperliquid. What’s more, the purchases are timely—just as the metrics from Hyperliquid itself are heading in a very encouraging direction. Hyperliquid Leads the Pack in May Performance This uptrend in $HYPE interest has a backdrop of a blockbuster month for Hyperliquid, the protocol supporting the token. Recent disclosures indicate that Hyperliquid posted a gross profit of $72.3 million in May, a figure that not only beats many other protocols at this point but also places Hyperliquid above heavyweight blockchain ecosystems like TRON and even Ethereum on this scale. $HYPE is likely to test the high level of $39.10 once again. In May, Hyperliquid gross profit was 72.3 M and took first place in this indicator, leaving behind TRON and even Ethereum. Also, we must not forget about the possible listing on Binance, which may happen and the… pic.twitter.com/PinBlcNvkl — Grumlin Mystery (@grum1in) June 9, 2025 Growing profitability has caught the attention of analysts, who now see the company performing with greater energy and focus. They attribute this new level of performance to three things: 1. Increased trading volumes; 2. Improved “capture mechanisms” for fees that are better aligned with the user experience; 3. A very real expansion of the Hyperliquid “ecosystem” in terms of serious applications that leverage the system and its features in sensible ways. Finally, as mentioned above, absolute and relative confidence in the company and its associated assets, particularly $HYPE, as we found out this last week at the Northern California cryptocurrency fair, has definitely soared. Numerous backers view Hyperliquid’s profit as laying a foundation for long-term growth, which in turn undergirds hefty valuations for $HYPE. If the platform can keep up or grow its top-line revenues, $HYPE might continue to reel in institutional-grade capital and outshine other coins not named Bitcoin or Ethereum. Conclusion: Whale activity, combined with a stellar financial month for Hyperliquid, suggests that $HYPE could be on the brink of another upward breakout. While nothing is guaranteed in the crypto markets, these developments paint a promising picture for bulls as the token eyes a return to its $39.10 high—and possibly beyond. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
