$32.9M Whale Stake Boosts Hyperliquid Confidence Amid Market Sell-Off

A large investor has staked $32.9 million in Hyperliquid's staking ecosystem by transferring 557,902 HYPE tokens to HyperCore.

This significant whale activity follows a recent $172 million stake by another investor, despite the token's price declining over the past week.

The HYPE token traded at $57.48, down 2.13% weekly, amid a broader crypto market sell-off with $244 million liquidated in leveraged positions.

Whale staking activity suggests confidence in Hyperliquid's ecosystem, but market sentiment remains cautious as prices correct from all-time highs.