According to monitoring data from on-chain analyst Embers, on January 29, a whale address continuously accumulated HYPE tokens over the past dozen hours. Previously, the address had transferred 45 million USDC to the Hyperliquid platform for purchasing HYPE.
As of now, the whale has successfully acquired 909,000 HYPE tokens, with an average purchase price of $33.5, representing a total investment of $30.5 million. Notably, the address still holds approximately $14.5 million in USDC, which is expected to be fully used for further accumulation of HYPE.
Market analysts pointed out that this large-scale one-sided buying behavior could positively impact HYPE's short-term price movement. However, investors should remain cautious of market volatility and avoid blindly following the trend.
- Purchased: 909,000 HYPE
- Total funds spent: $30.5 million USDC
- Remaining funds: $14.5 million USDC
- Average cost: ~$33.5