A mysterious crypto whale has once again caught the market's attention. According to data from Lookonchain, this large holder has resumed buying HYPE tokens on the Hyperliquid platform after a two-month break.
Significant Injection of Funds, Whale Continues Accumulation
This time, the whale deposited 4 million USDC into the platform to purchase more HYPE. Its current holdings amount to 591,470 HYPE tokens, valued at approximately $20.17 million.
Notably, the wallet still contains $2.43 million in USDC that has not yet been deployed, suggesting the accumulation phase might not be over and that further buying pressure could be on the horizon.
Market Impact and Future Outlook
- The whale's renewed activity may stir market sentiment and boost HYPE's trading volume.
- On-chain data shows that this address has historically made precise moves, indicating a strong understanding of market dynamics.
- As the whale continues to accumulate, the token's market cap and liquidity could see meaningful growth in the coming weeks.