- 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.
HYPE Token Price (Source: CoinMarketCap)
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 whales purchased 99,546 HYPE and 37,017 HYPE, spending 2.6 million and 2 million USDC respectively. One of the whales even holds 107,198 HYPE tokens with a total of $3.33 million in profit. Considering the strong fundamentals behind the Hyperliquid project, combined with investor confidence, the HYPE is estimated to rise higher in 2025.
While the whale accumulation adds to the bullish trend, the anticipated larger crypto bull run further adds to its upward trajectory, making HYPE go on an extended upward momentum. However, investors must keep a close eye on the market to be updated on how the market shifts its direction in the new year.
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