Major Whale Continues Aggressive HYPE Accumulation Strategy: 490,000 Tokens Acquired in Recent Push

A cryptocurrency whale has been quietly building its position in Hyperliquid (HYPE), with a notable 490,000-token accumulation worth approximately $12.1 million taking place over the last two weeks. This latest move signals a deliberate cost-averaging strategy as the investor seeks to optimize its entry points amid ongoing market volatility.

Building the Position: A Calculated Approach

The whale’s activity reveals a multi-phase investment thesis. Earlier in the year, between July and October, the same wallet had already accumulated 581,000 HYPE tokens at an average cost of around $14.4 million. That substantial position was partially deployed to Hyperliquid’s trading platform through a connected wallet, with 323,000 tokens worth $8 million being transferred.

The new 490,000-token purchase appearing just recently suggests the whale is not abandoning its conviction in HYPE but rather using price weakness as a buying opportunity. Given that HYPE is currently trading at $24.49, the investor’s recent accumulation at roughly $24.69 per token ($12.1M ÷ 490K) indicates a strategic decision to increase exposure at relatively favorable levels.

What This Pattern Tells Us

Whale-scale accumulation moves like this typically reflect confidence in a project’s medium to long-term prospects. The fact that this investor has maintained and even expanded its position across different market cycles—and continues to add when prices dip—demonstrates conviction beyond short-term noise. The division of holdings between a holding wallet and an active trading wallet on Hyperliquid also suggests a sophisticated strategy: maintaining core holdings while actively engaging with the platform’s trading ecosystem.

For retail observers, such moves from large holders often serve as a contrarian indicator during periods of uncertainty, though they’re no guarantee of future performance.