$HYPE Hits New All-Time Highs as Whale Buys $8.6M
Hyperliquid's native token $HYPE has reached new all-time highs, currently trading at $87.00, up 6.2% in the past 24 hours.
The platform's market capitalization stands at $19.352 billion with a circulating supply of approximately 222.4 million tokens out of a maximum 1 billion.
A whale recently purchased $8.6 million worth of HYPE, sparking interest among traders and analysts.
According to on-chain data, the purchase was made quickly across multiple exchanges, including OKX, Bybit, Bitstamp, and Gate, within a 27-minute timeframe.
This accumulation adds weight to the argument that demand has been outpacing supply during HYPE's recent price surge.
From a technical standpoint, $HYPE is currently testing the top of its well-defined ascending channel on the 4-hour chart, with both boundaries sloping upward since late August.