After experiencing significant price decreases over the past few days, Hyperliquid (HYPE) is currently displaying impressive recovery, seeing a remarkable price rise. The potential factor pushing this price jump is the growing interest and massive acquisition by whales.
116,147 HYPE moves from Hyperliquid
Today, March 1, 2025, crypto analyst Lookonchain posted on X that a whale deposited $3.38 million USDC into Hyperliquid to buy HYPE.
So far, the whale has purchased 116,147 HYPE tokens worth $2.36 million at an average price of $20.31 per coin. It seems the investor capitalized on the current drops in HYPE prices and accumulated massive amounts of the tokens at a discount.
This withdrawal activity shows confidence in the asset’s potential recovery and long-term value. Also, this suggests that Hyperliquid is attracting interest from smart investors, who are increasingly accumulating the token for investment growth.
HYPE price updates
This whale’s activity has triggered a positive impact on the Hyperliquid price. Today, the asset’s price is currently standing at $19.99, after seeing a 5.1% rise over the previous day. This optimistic outlook suggests increased participation from investors in HYPE.
The asset’s price has been down 17.9% over the past seven days and also down 22.8% over the past month.
Apart from the surging user participation, whales and traders appear to be acquiring and betting on HYPE’s potential future price growth.
Data from Coinalyze shows impressive outflows of the token from exchanges. Over the past two days, exchanges experienced continuous outflows, indicating potential accumulation by long-term holders and investors.
Derivatives traders are also heightening their open positions as indicated by Hyperliquid’s Open Interest (OI). In the past 24 hours, HYPE’s IO has risen by 1.11%. This is a bullish indicator signaling a growing sense of enthusiasm surrounding the asset. This points out that HYPE could continue to push its rise in the coming days.
The current positive sentiment in the Hyperliquid market shows heightened buying pressure, as indicated by the increase in the asset’s price.
The asset has been defending its value above the key support level at $18.54. If Hyperliquid can maintain its price above this zone, then there is a strong likelihood that it will continue to surge, possibly breaking its key resistance target of $25.72.
In other words, if the buying pressure continues to exceed selling, HYPE could see its value continue to surge toward the $25 zone. If successful, this rise will enable the asset to enter into an upward momentum.
