Whale Sells $9.54M HYPE, Causes Price Drop
- HYPE token drops 7.2% after major sale.
- Whale liquidates entire HYPE position.
- Significant impact amidst broad market activity.
A cryptocurrency whale liquidated $9.54 million worth of HYPE tokens, leading to a 7.2% price drop to $32 on Hyperliquid.
Whale Activity on Hyperliquid
A whale wallet known as 0x7E4E conducted the sale of 276,747 HYPE tokens valued at $9.54M on Hyperliquid around noon UTC. This activity resulted in a sharp 7.2% price decrease shortly after the sale on May 29, 2025.
The whale’s activities on Hyperliquid show a strategic exit, as evidenced by profits exceeding $10 million. This withdrawal indicates changing trading strategies on the platform and potential future shifts in the cryptocurrency market dynamics.
“This significant sell-off resulted in an immediate price drop of approximately 7.2% for HYPE.” – Lookonchain, On-Chain Data Tracker, Blockchain.News
Other notable market activities include a separate whale’s loss of $23.52 million due to a HYPE short position. This emphasizes the risks associated with high-leverage trading strategies in rapidly changing markets and the potential for significant financial repercussions.
Market movements may influence future regulatory responses and trading behaviors. Historical trends suggest continued volatility in whale-dominated markets, prompting traders to consider strategies carefully. Market analysis and trends provide insights into potential future fluctuations.
