Hyperliquid (HYPE), a rising star in decentralized finance, has captured significant market attention as it swiftly ascends to dominance in the futures trading sector. HYPE coin, the main asset of the network, reached a record high of $39.83 amid increasing interest from major investors. A notable driver of this surge was a prominent cryptocurrency whale, controlling the 0x15b3… address, who expanded their holdings to nearly $30 million after purchasing $2.95 million HYPE coins within two months. This growing transaction volume, competitive fee revenues, and whale interest collectively propelled HYPE’s momentum during its early growth phase.
HYPE Coin Breaks Records with Historic Interest
During a market downturn from April 7-9, when Bitcoin $0.000037 dipped below $75k, the whale controlling the 0x15b3… wallet invested boldly in HYPE, alongside ETH, SOL, BTC, ENS, and LTC, opening leverage positions anticipating upward trends. Despite the market’s decline, this bold strategy proved advantageous, especially as HYPE was trading below $25 at that time. As the market recovered and HYPE’s price rebounded, the portfolio value surged to $29.76 million. This combination of leverage, timing, and a diverse coin selection enabled the whale to achieve nearly tenfold returns.
Altcoin HYPE Whale Acquisition
This impressive gain fostered confidence within the ecosystem. On-chain data indicated a 38% increase in the number of wallets acquiring HYPE during this period. This growth wasn’t solely due to individual interest, as at least three substantial wallet addresses made single purchases exceeding $5 million each. These seasoned market players tightened the liquid supply of the coin, creating an additional upward pressure on its price.
Hyperliquid Platform Accelerates Its Growth Phase
Launched on January 6, Hyperliquid supports the Hyperfy metaverse and gaming infrastructure via HYPE. According to DefiLlama, an impressive $78.67 billion in trading volume was recorded during the week of May 11-18. May 21 marked a single-day record of $17.73 billion. The cumulative trading volume surpassed $1.15 trillion, with open positions exceeding $10.1 billion, and USDC locked on the platform approaching $3.5 billion.
The income aspects are equally promising. On May 26, the platform earned $5.6 million daily and $22 million weekly, ensuring sustainable liquidity. On the same day, HYPE’s trading volume exceeded $460 million, leading to a nearly 50% price increase within one month. The platform’s high volume and low slippage rate attract professional investors, while the fee burn program embedded in the coin economics helps mitigate long-term supply pressure. Increasing metaverse integrations provide both usage and value transfer to HYPE, further fueling growth.
The momentum of HYPE demonstrates that bold moves by major players in the cryptocurrency market can be rewarding. The platform’s record-breaking volumes offer a solid foundation for this ascending trend.
