HYPE price rallies 1.4% to $85.36 as whale accumulation and ETF listing boost outlook

The Hyperliquid (HYPE) token continues to gain traction, with bullish sentiment strengthening as institutional interest, staking activity, and significant whale accumulation lend support to the price action. At press time, HYPE trades at $85.36 with a 24-hour trading volume of $793.73 million and a market capitalization of $21.47 billion, having risen 1.36% within the last day.

Whale accumulation and staking activity

A large investor known for operating the wallet “0x6436” has recently acquired 343,000 HYPE tokens valued at approximately $29.09 million, according to on-chain data shared by the market watcher Lookonchain. This move increases the whale’s position to 3.24 million HYPE tokens, collectively worth around $252 million.

Lookonchain added that this wallet has staked its entire HYPE holdings, indicating a long-term commitment to the project rather than seeking short-term gains. The ongoing accumulation by this major holder has drawn attention among traders, raising confidence in the token’s outlook.

Lookonchain emphasized that the magnitude of accumulation reflects substantial belief in HYPE’s long-term prospects, particularly since the tokens are now held in staking rather than entering the market for sale.