Hyperliquid Price Rallies 40% as Whales Accumulate Tokens
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 3h ago- Whale Accumulation Trend: Hyperliquid (HYPE) price surged over 40% in the past week, with a 21% increase in the last 24 hours reaching a 10-week high of $38, indicating strong demand from whale investors that may drive the price back to October's $50 high.
- Surge in Market Activity: Data from HyperDash shows that whales holding $1 million to $5 million in HYPE have been accumulating more tokens over the past week, attracting retail investors' attention and suggesting a bullish outlook on HYPE's long-term potential.
- Expansion into Prediction Markets: The HyperCore team supports the HIP 4 proposal to expand into prediction markets, allowing fully collateralized contracts, which is expected to draw more investors and further enhance demand and price for HYPE.
- Buyback Mechanism Support: Hyperliquid's unique buyback and burn mechanism utilizes 97% of net fees to repurchase HYPE tokens, effectively reducing circulating supply and creating long-term deflationary pressure that supports HYPE's price increase.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
