HYPE trades near $85 as whale stakes $252 million, ETF holdings reach $75 million

The HYPE token is currently trading close to $85, following a sharp recovery from a recent $50 low. This rebound, which capped a 240% rally from earlier entry prices, has drawn attention from both major individual holders and institutions, with many investors now watching the $105 level as the next major resistance.

Strong Technical Momentum

Since its recent surge, HYPE’s performance has been reinforced by robust technical indicators. The token remains above its 20-day exponential moving average at $78.29, with the 50, 100, and 200 EMAs all positioned below the current price. This setup signals continued bullish momentum for the asset.

The MACD indicator also points to sustained buyer control, while returns for early investors remain significant. Market analyst Hov highlighted that an initial position around $26 has yielded gains of 240%, while entries near $55 are up over 50%.

Major Whale Signals Long-Term Commitment

Blockchain analytics platform Lookonchain recently reported a substantial buy by the wallet address 0x6436, which added 343,000 HYPE tokens worth $29 million to its previous holdings.

Blockchain analytics indicated the wallet now holds 3.24 million HYPE tokens, valued at approximately $252 million, having staked the entire balance—a move seen as a sign of strong conviction in HYPE’s long-term outlook.