Hyperliquid (HYPE) climbed past $64 to a record high on Sunday as on-chain trackers flagged sharply split whale behavior, with some wallets buying millions and others selling into strength.
Key Points:
- HYPE set a fresh all-time high above $64, capping a roughly 40% weekly gain.
- One whale spent $15.1 million in stablecoins to buy 238,811 HYPE near the peak.
- Another trader unstaked $27 million worth of the token and began selling into the rally.
Hyperliquid Whales Split As HYPE Sets Record
The token touched a new all-time high above $64 on Sunday, extending a run that lifted it more than 40% over the past week. On-chain data tracked by analytics firm Lookonchain showed traders moving in opposite directions during the same stretch.
One wallet paid $15.1 million in USDC (USDC) for 238,811 HYPE at $63.25. A newly created address separately pulled 63,780 tokens worth $4.06 million off Bybit.
Trader Garrett Jin went the other way on conviction. He has gathered 145,050 HYPE worth about $9.05 million over four days, then placed a time-weighted order for roughly 39,940 more tokens worth $2.44 million.
BitMEX co-founder Arthur Hayes appeared to flip his stance mid-rally. A wallet linked to Hayes moved 115,453 HYPE onto Bybit at $54.81, then later withdrew 85,714 tokens at $62.69.
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Why HYPE Whale Moves Matter
Not every large holder chased the move. One whale unstaked 443,180 HYPE worth $27 million and has already sold most of it, closing a short position that turned against the rally.
The divide matters because Hyperliquid sits in rare territory, setting new highs while much of the crypto market trades flat or lower. Whether steady buying absorbs the profit-taking near current levels will likely decide the token's next direction.
A scheduled core-contributor unlock in June adds another supply event to watch, testing how much fresh demand the ecosystem can keep pulling in.
HYPE has roughly doubled from below $40 in a matter of weeks, one of the sharpest moves in crypto this quarter, fueled by surging volume, institutional flows tied to spot exchange-traded products, and persistent whale interest across the perpetuals platform.
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