Whales Accumulate Over $5M in $HYPE Within 24 Hours, Signaling Rising Interest in Hyperliquid Ecosystem

Spot On Chain shared data on June 9 about crypto whale purchases of Hyperliquid Exchange’s native token. Three major wallet addresses made substantial token acquisitions in a short timeframe. One whale used address 0xd83C to buy 70,617 HYPE tokens with $2.5 million USDC. Another whale from address 0x9E87 invested $1 million in HYPE tokens earlier that day. These actions signal growing interest among HYPE whales accumulating more tokens. This report follows earlier whale moves noted by the same research group.

Surge in Large HYPE Orders Suggests Potential Short-Term Price Volatility

HYPE whales accumulating tokens continued as a third wallet, 0xab6e, submitted a pending order for over 57,000 HYPE tokens. The order totaled around $1.45 million at an average price of $24.95 per token. This transaction had not been completed by the time of the report’s release. It shows ongoing demand for Hyperliquid Exchange’s native token among top traders. Trades of this size occurred within a narrow time window that surprised analysts. Such large volumes can influence short-term price movements significantly.

Whale Wallets Experience Unrealized Losses After Large HYPE Token Purchases

Not all these large trades resulted in profits for the whale investors. Wallet 0xd83C has an unrealized loss of about $26,500, a -1.06% change. Similarly, address 0x9E87 holds roughly $7.85 million worth of HYPE tokens now. That whale shows a loss of $133,148, equal to -1.67% since purchase. These figures underline the volatility faced by even large holders of digital assets. Such outcomes highlight significant risks intrinsic to crypto purchases. Investors must consider these swings when planning significant token acquisitions.

Positive May Metrics Drive Renewed Interest From HYPE Whales

An earlier move on June 3 involved another large token purchase. Wallet 0x005ac acquired over 110,000 HYPE tokens for $3.99 million at $36 each. This investor also opened a 4x long position on the same token. They closed the position by June 5, realizing $361,000 in total profits. This example further illustrates varied outcomes across HYPE whales accumulating over time. Early profits show that timing and leverage can shape final financial results strongly. It contrasts with recent losses faced by other large holders in similar trades.

The recent purchases could be caused by the positive May 2025 data. Based on the released metrics, Hyperliquid processed $244 billion in trading volume. That figure equals roughly 10% of Binance’s volume in the same period. Traders noted the platform’s speed, transparency, and robust asset control features as main reasons for growth. HYPE token value also climbed 60% over the past month on open markets. However, large trades can still drive sharp price swings within hours of execution. Market watchers continue to track significant crypto whale purchases closely.

Industry Voices Raise Concerns Over Hyperliquid’s Referral Payout Structure

Despite the positive May metrics, some industry figures question Hyperliquid’s referral structure and reward distribution. James Wynn reported only a $34,000 payout despite generating substantial trading traffic. He argued that low referral payouts could deter future promotional efforts by influencers. Additionally, Binance founder CZ proposed a dark pool DEX model as competition. That model aims to reduce front-running and improve trade privacy for users. These developments add pressure on all decentralized exchanges to adapt their strategies. The evolving DeFi exchange space faces challenges across innovation and fair user rewards.

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