Big HYPE and FARCOIN buyings were reported as a whale, 0xa52, spent over $23.5M in a major buying action through Hyperliquid, as reported by Spot On Chain.
On-chain data shows that these transactions were conducted during the previous eight hours, indicating that new capital has entered the market.
Massive HYPE Accumulation
The largest purchase was 21.31 million dollars for 466,421 HYPE tokens, with an average price of $45.69 per token.
Since the purchase, HYPE has gained 5.79 percent, indicating that the whale currently holds approximately $1.23 million dollars in unrealized profits.
The amount of the purchase has drawn the attention of the traders because of the increasing popularity of the token on Hyperliquid.
These types of big purchases may affect both price and sentiment and, in many cases, may attract new activity by retail and other whales trying to ride the wave.
The whale added close to half a million tokens in a single transaction and therefore became a major holder with enormous power to profit in case the bullish settlement persists.
FARTCOIN Buy Adds to Aggressive Positioning
Besides the HYPE buy, the whale acquired 2.16 million FARTCOIN at a rate of $1.02 each, worth $2.21 million.
The amount of $23.5 million spent on purchases in the previous several hours demonstrates a strong faith in trading in the markets.
This kind of activity goes to the extent of raising theories as to what the whale is up to, either short-term trading to achieve quick profits or long-term buying.
Both these altcoins will now be under keen observation of subsequent actions, with the huge holders having the capability of impacting markets in terms of liquidity as well as volatility.
