Whales Load Up on HYPE as Fresh USDC Flows Hit Hyperliquid

On-chain data shows renewed whale interest in HYPE as two large wallets deposited $5 million in USDC into Hyperliquid within a single hour. The funds were immediately used to build positions in HYPE, Hyperliquid’s native governance token, signaling growing confidence among deep-pocketed investors.

Wallet 0xDAeF Builds a Larger Position

Wallet 0xDAeF now holds 214,497 HYPE tokens, valued at approximately $5.44 million. More importantly, the wallet still retains 5.52 million USDC on the platform. This reserve suggests the whale plans to continue accumulating rather than executing a one-time purchase.

A second whale, wallet 0x3300, mirrors this behavior. It currently holds 102,460 HYPE tokens worth around $2.61 million. The wallet also has 2.45 million USDC allocated for future buys, reinforcing the idea of phased accumulation rather than short-term speculation.

Accumulation Strategy Signals High Conviction

The pattern of gradual USDC deposits points to a deliberate strategy. Whales often use time-weighted average purchases to reduce slippage and avoid spiking prices. This approach typically reflects long-term conviction rather than impulsive momentum trading.

Hyperliquid operates as a high-performance Layer-1 decentralized exchange known for low fees and fast execution. Since HYPE’s launch in late 2024, the token has become central to governance and incentives. At around $25 per token, HYPE has also seen a recent 5% increase in daily trading volume, pushing activity to roughly $164 million. Historically, concentrated whale accumulation in DeFi governance tokens has preceded strong upside moves. Similar accumulation phases in past cycles have resulted in 20% to 50% rallies once supply tightens and broader market attention follows.