Whale Buys 396K HYPE Worth $18M, Still Has $6M USDC to Deploy

A major crypto whale has been making waves in the Hyperliquid ($HYPE) market. Over the past 32 hours, the whale wallet 0xAD83 spent more than $18.15 million in USDC to accumulate 396,468 HYPE tokens. With an average purchase price of $45.8 per token. This marks one of the largest single-wallet buys of HYPE in recent weeks. What’s more, the investor still holds $6 million in USDC. It suggests further accumulation could follow.

Steady Buying Spree

On September 23, blockchain tracker Lookonchain reported that the whale had withdrawn $10.19 million in USDC. From Hyperliquid’s HLP Vaults and deposited another $5 million in USDC into the exchange. Using these funds, the whale purchased 114,872 HYPE worth $5.58 million that same day. By September 24, the buying spree had continued. In total, the whale’s position ballooned to nearly 400,000 HYPE. With an outlay of over $18 million. 

Despite the large-scale buying. The address still retains more than $6 million in stablecoins, making it likely the purchases will continue. This aggressive strategy highlights growing confidence in HYPE’s long-term outlook. Even as its price continues to attract speculative interest across the market.

Whale Confidence Boosts Market Sentiment

Large purchases from whales often influence community confidence. In this case, the steady accumulation suggests long-term conviction in HYPE’s potential. While short-term price movements remain volatile. The fact that one investor continues to deploy millions has provided a psychological boost for holders. Analysts note that whale buying patterns can create opportunities and risks. 

On the one hand, consistent accumulation reduces circulating supply, potentially supporting higher prices. On the other hand, if whales decide to sell in bulk. The market can face sudden downward pressure. Currently, all signs point toward further buying. With $6 million in USDC still available, the whale’s strategy may not be complete.

Growing Interest Around Hyperliquid

The whale activity comes amid broader interest in Hyperliquid. It has seen steady growth in trading volume and liquidity. The project’s roadmap includes expanding its cross-chain features and enhancing user tools for professional traders. In a crowded DeFi space, Hyperliquid’s emphasis on scalability and low-latency trading has set it apart. 

These strengths have also helped the HYPE token attract attention from large capital allocators. Who views infrastructure focused projects as more sustainable than meme driven tokens. Market observers point out that large-scale buys like this can also serve as marketing in themselves. It is drawing retail investors curious about what whales see in a project. The growing buzz around Hyperliquid may fuel even more inflows if confidence continues to build.

Outlook for HYPE

The whale aggressive purchases underscore a broader trend of rising institutional and whale interest in DeFi tokens tied to infrastructure. While it remains to be seen how much further the wallet will accumulate. The available $6 million in stablecoins suggests the buying spree could continue in the short term. As Hyperliquid strengthens its ecosystem, token demand may grow alongside it. If whale support remains steady. 

HYPE could see stronger price stability compared to smaller tokens. Still, the risks remain high, as large investors often drive upward and downward swings. For the moment, the whale actions have added fuel to the growing momentum around Hyperliquid. With nearly $18 million already committed and millions more waiting on the sidelines. The market will be closely watching to see the next move.