Bitcoin OG Garrett Jin Increases $HYPE Holdings to 184,182 Tokens Worth $11M

Garrett Jin, the controversial Bitcoin  BTC +0.00% early adopter known by his on-chain tag “Bitcoin OG 10/11,” has increased his HYPE token holdings to 184,182 tokens worth approximately $11 million. On-chain data shows he is still holding the position with no signs of distribution.

Garrett Jin Adds to $HYPE Position, Stack Now Worth $11 Million

Jin, the founder of defunct cryptocurrency exchange BitForex, accumulated 145,050 HYPE tokens over four days at a cost of roughly $9.05 million. He then placed an active TWAP (time-weighted average price) order for an additional 39,940 HYPE, valued at approximately $2.44 million.

The combined position of 184,182 HYPE, according to a single on-chain tracking source, reflects a partial fill of the TWAP order at the time of reporting. Jin’s wallet address, 0x92ea19ECeB7a8dE0f50978A1583A5D8b018050e9, was identified via his ENS name garrettjin.eth.

Beyond HYPE, Jin’s Hyperliquid portfolio includes a 504.4 BTC long position worth roughly $38.9 million and a 57,460 ZEC short valued at approximately $38 million. The multi-asset directional book suggests a deliberate thesis rather than a single speculative bet.

Why a Bitcoin Early Adopter Accumulating $HYPE Matters

The “Bitcoin OG 10/11” designation refers to Jin’s infamous October 2025 Bitcoin short that reportedly netted around $160 million in profit. That trade, tracked in real time by on-chain analytics firm Lookonchain, cemented his reputation as one of the most closely watched whales in crypto.

This is insane!

Garrett Jin(#BitcoinOG1011short) has deposited his remaining 225,627 $ETH($528.19M) into #Binance.

In just 4 days, he deposited all 577,896 $ETH($1.35B) into Binance.

Most of these $ETH were swapped from $BTC 8 months ago, when $ETH was trading at $4,591. He… pic.twitter.com/1eLE0LUIgo

— Lookonchain (@lookonchain) May 10, 2026

Source: @lookonchain on X

HYPE is the native token of Hyperliquid, a high-performance on-chain perpetuals decentralized exchange that has surged to become one of the top protocols by trading volume. Jin choosing to accumulate the platform’s native token, rather than simply trading on it, signals ecosystem conviction from a trader known for patience and large directional bets.

An $11 million concentrated position in a single altcoin is a meaningful commitment. When the buyer is a veteran whale whose previous moves have preceded major market shifts, the crypto community treats it as a sentiment signal worth monitoring, similar to how Bitcoin ETF flow data serves as an institutional sentiment gauge.

Jin’s background carries controversy. He founded BitForex, a cryptocurrency exchange that Hong Kong authorities accused of fraud in 2023 following a suspected $56.5 million exit scam. Jin has denied insider trading allegations related to his October 2025 Bitcoin short, stating the funds belonged to clients used for hedging. His current activity on Hyperliquid, a decentralized platform, continues to draw scrutiny.

$HYPE Price Rally and What to Watch

HYPE hit a new all-time high of $64.27 on May 24, 2026, up 26.7% over seven days and 45% over 30 days. The token’s market cap stands at roughly $13.35 billion, ranking it 11th among all cryptocurrencies.

At the current price of roughly $60.15, Jin’s 184,182 tokens carry an implied per-token cost that suggests he accumulated below the ATH. The token’s 24-hour trading volume of approximately $758.4 million provides sufficient liquidity for positions of this size.

The broader market backdrop is cautious. The Fear & Greed Index sits at 34, firmly in “Fear” territory, even as HYPE trades near record levels. That divergence, a single token rallying while broader sentiment remains defensive, mirrors the mixed whale activity on Hyperliquid where aggressive buyers coexist with significant profit-takers near ATH prices.

Jin’s wallet is publicly trackable on Hypurrscan. Any further accumulation or distribution from that address will be visible in real time. Meanwhile, developments in global crypto regulation and stablecoin expansion continue to shape the broader environment in which tokens like HYPE operate.

Accumulation by one high-profile holder does not guarantee price direction. What it does provide is a verifiable data point: a whale with a track record of large, conviction-driven trades is buying and holding the native token of one of crypto’s fastest-growing trading platforms.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.