Hypeliquid whale accumulate $3.94 million worth of Hype
The post Hypeliquid whale accumulate $3.94 million worth of Hype appeared on BitcoinEthereumNews.com. Key Takeaways Hyperliquid whale returned after 5 months and purchased $3.94 million in HYPE as the price retraced from the ATH. Hype Futures participation has slowed down, with Perpetuals volume declining by $8 billion. After reaching a new ATH of $52.12 a day ago, Hyperliquid [HYPE] retraced, hitting a low of $46. At press time, HYPE was trading at $47.7, marking a 4.7% decline over the past 24 hours. Before this dip, the altcoin had been on an upward trajectory, hiking by 13% weekly charts. Amid this retracement, investors, especially whales, took the opportunity to buy the dip. Hyperliquid whales continue to buy According to Onchain Lens, a previously dormant whale returned after five months and deposited $5.72 million into Hyperliquid. The whale used $3.94 million of that to acquire 81,572.11 HYPE tokens. Notably, the whale still holds $1.78 million in reserve, with an open buy order for HYPE at $48, suggesting continued interest in accumulating. When whales re-emerge and begin accumulating, it often reflects strong market conviction, a classic bullish signal. In fact, exchange activity has echoed this market conviction. According to CoinGlass, HYPE has recorded a negative Spot Netflow for two consecutive days, hitting an all-time low of -$13.9 million on the 27th of August. Source: CoinGlass At press time, the altcoin’s Netflow was -$4.04 million, indicating sustained exchange outflows compared to inflows. Historically, increased exchange withdrawals, particularly from whales, have led to intense upward pressure on an asset’s price. Futures participation slows down Surprisingly, despite HYPE’s rally to an ATH, the Futures market has failed to keep up with the momentum. According to Defillama data, Hyperliquid’s Perpetuals Volume has declined for four consecutive days, dropping from $21 billion to $13 billion. Source: Defillama Typically, such a drop indicates reduced participation in futures; thus, overall market leverage is decreasing. …
The post Hypeliquid whale accumulate $3.94 million worth of Hype appeared on BitcoinEthereumNews.com.
Key Takeaways Hyperliquid whale returned after 5 months and purchased $3.94 million in HYPE as the price retraced from the ATH. Hype Futures participation has slowed down, with Perpetuals volume declining by $8 billion. After reaching a new ATH of $52.12 a day ago, Hyperliquid [HYPE] retraced, hitting a low of $46. At press time, HYPE was trading at $47.7, marking a 4.7% decline over the past 24 hours. Before this dip, the altcoin had been on an upward trajectory, hiking by 13% weekly charts. Amid this retracement, investors, especially whales, took the opportunity to buy the dip. Hyperliquid whales continue to buy According to Onchain Lens, a previously dormant whale returned after five months and deposited $5.72 million into Hyperliquid. The whale used $3.94 million of that to acquire 81,572.11 HYPE tokens. Notably, the whale still holds $1.78 million in reserve, with an open buy order for HYPE at $48, suggesting continued interest in accumulating. When whales re-emerge and begin accumulating, it often reflects strong market conviction, a classic bullish signal. In fact, exchange activity has echoed this market conviction. According to CoinGlass, HYPE has recorded a negative Spot Netflow for two consecutive days, hitting an all-time low of -$13.9 million on the 27th of August. Source: CoinGlass At press time, the altcoin’s Netflow was -$4.04 million, indicating sustained exchange outflows compared to inflows. Historically, increased exchange withdrawals, particularly from whales, have led to intense upward pressure on an asset’s price. Futures participation slows down Surprisingly, despite HYPE’s rally to an ATH, the Futures market has failed to keep up with the momentum. According to Defillama data, Hyperliquid’s Perpetuals Volume has declined for four consecutive days, dropping from $21 billion to $13 billion. Source: Defillama Typically, such a drop indicates reduced participation in futures; thus, overall market leverage is decreasing. …
What's Your Reaction?
