cryptopotato.com
TL;DR
- Whales accumulated $24M in $HYPE within hours, fueling momentum as the price closes in on ATH.
- Technical charts show a strong support trend line, with $52 resistance key for the next bullish breakout.
- Hyperliquid governance vote on $USDH ticker may redirect $5.5B and yield $220M annually.
Whales Accumulate Millions in $HYPE
Hyperliquid ($HYPE) just breached its previous all-time high as whales continue to add large positions. Over the last 16 hours, wallets linked to major buyers have picked up more than $24 million worth of tokens.
Lookonchain reported that qianbaidu.eth bought 260,900 $HYPE ($13M) in the past 16 hours via 2 wallets. In the same period, wallet 0xe0f0 opened a long position of 136,906 $HYPE ($6.9M). Two other wallets, 0x328B and 0x23fA, added another $2.13M and $2M in tokens, with the latter staking its purchase shortly after.
Whales are bullish on $HYPE.
qianbaidu.eth bought 260,900 $HYPE($13M) in the past 16 hours via 2 wallets.
0xe0f0 opened a long position of 136,906 $HYPE($6.9M) in the past 6 hours.
0x328B bought 43,415 $HYPE($2.13M) in the past 12 hours.
0x23fA bought and staked 42,161… pic.twitter.com/DVCF5srlUA
— Lookonchain (@lookonchain) September 8, 2025
CoinGecko data shows that $HYPE skyrocketed to a new all-time high of just over $51. The token is up 7% in the last 24 hours and 13% over the past week, with daily trading volume at $360 million.
Market analyst Nanji noted the scale of recent buys, writing,
“Whales straight up aped $24M into $HYPE in the last 16 hours… we might be staring at $65 $HYPE sooner than u think.”
Technical Chart Shows Bullish Setup
Chart analysis from Kamran Asghar points to a supportive trend line that has carried $HYPE higher since early August. Each of the three retests of this line has been followed by a strong bounce, showing steady accumulation at lower levels.
Price action is now testing resistance at $52, a level that has been rejected multiple times in the past month. Asghar stated,
“$52.00 is a resistance after which a good bullish momentum will be seen.”
A breakout could pave the way toward $54–$56, with the rising trend line acting as support.
Governance Vote on Stablecoin Ticker
The Hyperliquid community is preparing for a governance vote on September 14 over the $USDH ticker. CryptoPotato reported that the vote is focused on strengthening the platform’s native stablecoin strategy and reducing exposure to $USDC.
If passed, the change could redirect up to $5.5 billion from $USDC and generate an estimated $220 million in yearly yield for $HYPE holders. The decision will serve as a test of the network’s community-driven governance model.