Qianbaidu.eth, a whale investor, has reinvested $12 million in HYPE tokens after previously realizing a $1.93 million profit, signaling potential confidence in the token's future.

Market Activity

Qianbaidu.eth, a whale investor, has purchased 256,000 HYPE tokens at $46.9 each, amounting to a $12 million investment. This move follows the whale's previous profit of $1.93 million from trading HYPE three months prior.

Whale Behavior Analysis

According to 余烬, an on-chain analyst, qianbaidu.eth initially acquired 420,000 HYPE tokens for approximately $13.4 million, averaging $31.9 per token. Subsequently, the whale sold 235,000 HYPE tokens for about $8.7 million, averaging $37, realizing a profit of approximately $1.2 million. The address still holds 185,000 HYPE tokens, currently valued at around $6.55 million. The whale deposited 19.38 million USDC into HyperLiquid to buy HYPE.

Hyperliquid Ecosystem

Hyperliquid, a decentralized exchange, operates on its own HyperBFT Layer-1 blockchain, processing 200,000 orders per second with zero gas fees. As of August 2025, it commanded 70–80% of the decentralized perpetual futures volume, attracting $3.5 billion in total value locked (TVL) and $29 billion in 24-hour trading volume. The HYPE token, the native cryptocurrency of the Hyperliquid ecosystem, operates under a hyper-deflationary economic model, with 97% of protocol fees allocated to buybacks and burns, reducing the circulating supply by 4% annually. By July 2025, this mechanism had destroyed 28.5 million tokens, valued at $1.3 billion, shrinking the total supply to 334 million. Staking incentives for HYPE offer up to 55% annual yields, locking liquidity and reducing sell pressure.

Market Implications

The whale's activity could influence overall market sentiment, especially if HYPE breaks above its 50-day moving average. Open buy orders around the $45 – $46.05 level indicate anticipation of near-future price growth. The current live price of Hyperliquid is $47.12 USD, with a 24-hour trading volume of $121,889,538 USD. Hyperliquid is up 1.78% in the last 24 hours.