A Hyperliquid (HYPE) whale has pocketed an unrealized gain of $16.15 million, effectively selling 385,513 tokens at an average price of $41.90.
The wallet (0x7dac) accumulated 1.26 million HYPE tokens at an average price of $7.52 for a total investment of $9.51 million and additionally received 22,270 tokens at genesis.
This sale was just the next round of profit-taking, after previously disposing of 67,006 tokens for $3.82 million.
Even with the selling frenzy, the whale is still holding 900,663 HYPE tokens worth nearly $50.5 million, confirming that while returns were definitely realized, there is also continued exposure to the project.
Total Profits Surpass $57M as Whale Maintains Large Position
The whale has realized profits of over $57 million and has now become one of the most successful HYPE investors in history.
How do we know this? Because, based on the calculations of realized margins from profits, the 385,513 tokens sold for $16.15 million have an acquisition cost far below that.
The whale has sold over 30% of its position, yet it still owns a decent amount of HYPE, which enables the chance for the whale to make greater profits if prices continue to go higher.
The abstract combination of showing intentionality for profit-taking and intentionality for long-term holding should speak to a clear plan to guard against highly volatile cryptocurrencies.
HYPE Market Cap Exceeds $15B as Price Climbs
Hyperliquid’s momentum is not slowing down anytime soon, with HYPE’s price increasing to $56.39 today, which is a 4.01% increase in the last 24 hours and a 22.24% increase in the last week.Â
Trading volume is still exceptionally high at $907 million in one day, highlighting the strong interest in the market.
With a circulating supply of 270 million tokens, the project’s market cap is currently an impressive $15.28 billion.
This type of growth is putting HYPE into the crest of DeFi derivatives tokens, drawing institutional interest, and securing its role in the decentralized finance ecosystem.
Also Read: Andrew Tate Turns $16,000 Profit Betting Against Kanye West’s $YZY Token
Other Major Investor Moves Highlight HYPE’s Strength
Beyond this whale activity, Hyperliquid has been in the news with a slew of other major on-chain events.
On September 9th, whale “mlmabc” exchanged $38 million in Ethereum and Solana for HYPE, and the $HYPE token exploded upwards to $279 million, a $241 million profit from the time it took to perform the on-chain swap, according to UnoCrypto.
Additionally, “mlmabc” became one of the top 5 wallet holders of the HYPE token as a result of its gambit.
The progress above confirms not only the speculation and growth potential of HYPE, but the high stakes and risk and reward that are fueling the current pulse of investor interest.