The post Whales Purchase Over $8 Million HYPE, Price Rally to Continue? appeared on BitcoinEthereumNews.com.

HYPE price surged around 10% today following staking launch on Hyperliquid mainnet.  Three Whales accumulated around $8 million worth HYPE tokens spending USDC.   The Hyperliquid project grabbed the spotlight in 2024 with its innovative framework and strong fundamentals. Its native HYPE token has been going on an upward trajectory since the launch, showing market optimism and investor confidence.  The HYPE token price rally that started with Hyperliquid airdrop, aka one of the largest crypto airdrop ever with a $1.6 billion valuation. It resulted in a 100% price surge of HYPE tokens from $3 to $7. From then, the HYPE token rose to be the top 22nd crypto token on the crypto price tracking platform CoinMarketCap, with a continuous upward movement.  Hyperliquid’s HYPE token surged over 10% today and it is currently trading at $25.87 with a 7.33% rise at press time. Its market capitalization showed significant growth since the token launch, which is hovering around $8.63 billion. However, the trading volume recorded a 13.73% drop in the last 24 hours.  The Hyperliquid layer 1 blockchain gained significant attention across the industry and grew to the top 22nd position by market cap within no time. It is currently competing with the top memecoin PEPE, having close market capitalization values. The staggering TPS of 200,000 with 0.2 second time to transaction finality made Hyperliquid one of top projects to watch in 2025.  Three Whales Purchase $8 Million HYPE Tokens As per on-chain analytics platform Spot On Chain findings, three whales purchased large volumes of HYPE tokens, spending USDC stablecoin. With the ongoing price surge and whale purchase, Hyperliquid briefly climbed up to the top 20th position, surpassing PEPE by market cap.  A whale spent 3.96 million USDC to purchase 151,277 HYPE tokens, as per Spot On Chain. And, the next two…

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Filed under: News - @ January 2, 2025 3:28 pm