Here’s How a Trader Made Over $38M in Profit on HYPE

A crypto trader has turned a smart HYPE token strategy into about $38.9 million in total realized and unrealized profits.

Meet a smart trader on $HYPE with over $38M in total profits.

Trader 0xda3c has made 8 perp trades on $HYPE — all winners — earning $1.95M in total.

6 months ago, he spent $5.2M to buy 1.21M $HYPE($42.2M now) at a low price of only $4.3.

Today, he sold 131,137 $HYPE($4.7M) and… pic.twitter.com/IyAPhsdsYu

— Lookonchain (@lookonchain) June 9, 2025

For context, HYPE is the native asset of Hyperliquid, a Layer 1 blockchain tailored for decentralized finance (DeFi). The network also runs a decentralized exchange (DEX) under the same name.

Over $38M in Profit on HYPE

Blockchain data shows that the wallet address 0xda3c executed a series of profitable transactions over the past six months. The trader initially bought 1.21 million HYPE tokens at $4.30 each, spending close to $5.2 million. With the asset now trading significantly higher, the value of those tokens has surged to around $42.2 million.

Beyond just holding, the trader also actively participated in perpetual futures tied to HYPE. On-chain activity reveals that the wallet completed eight HYPE perp trades, all closing in profit. These trades brought in $1.95 million in realized gains.

In a more recent move, the trader sold 131,137 HYPE tokens for approximately $4.7 million. Given the original entry price, this sale alone generated around $4.14 million in confirmed profit.

Despite selling some tokens, the trader still holds a substantial HYPE position. On-chain records indicate that 605,247 tokens remain staked, valued at roughly $21.3 million. The unsold portion from the original purchase amounts to 1.08 million tokens, which currently represents an unrealized profit of about $32.8 million.

When adding the $1.95 million from perp trades and $4.14 million from the recent token sale, the trader’s realized profit totals $6.09 million. Combined with the unrealized gains, their overall profit reaches nearly $38.9 million.

Another Wallet Scores $29M on Hyperliquid

In a separate development, an unidentified trader has reportedly pocketed over $29 million on Hyperliquid’s DEX in less than two months. The trader funded a new wallet with $2.95 million in USDC and opened long positions across 16 different assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Litecoin (LTC).

On-chain analysis shows these positions were entered during a dip, when Bitcoin fell below $75,000. The trader’s timing proved effective, as BTC later surged past $111,000, setting a new all-time high and boosting the overall portfolio.

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