Whale Acquires HYPE Tokens, Opens 10x Short Position
- The whale’s $10.5 million USDC purchase impacted HYPE’s price.
- Price surged approximately 20% following the transaction.
- Hyperliquid team hasn’t issued a statement yet.
A crypto whale spent $10.5 million USDC to buy 287,153 HYPE tokens on Hyperliquid, while establishing a 10x short position for hedging.
This event reflects strategic hedging in volatile markets, reflected by HYPE’s 20% price surge post-purchase.
A prominent crypto whale has executed a complex trade involving the purchase of 287,153 HYPE tokens with $10.5 million USDC, executing a 10x leveraged short position. The whale’s maneuver highlights a sophisticated strategy on the Hyperliquid exchange. Market observers note that this large-scale purchase caused HYPE price to surge by 20% and sparked active discussions on social media. Key players or teams from Hyperliquid have yet to formally respond, with no institutional or governmental reactions recorded. Historically, such whale movements have often foretold volatility and temporary price spikes in derivatives-linked platforms until normalization. Industry experts are now analyzing if this move might suggest further market activity or strategic positioning.
“A whale deposited $10M $USDC into #HyperLiquid and placed TWAP orders to buy $HYPE.” – Onchain Lens, Blockchain Analyst, source
