Hype Token Surges 240%, Whale Invests $29M Amid Institutional Interest

The HYPE token has seen a significant price surge of 240% in recent weeks, pushing its value to near $85. This recovery comes from a low of $50 and is driven by aggressive whale accumulation and institutional investment in Hyperliquid-linked ETFs.

A major whale investor purchased 343,000 HYPE tokens worth $29 million and staked the entire position, removing supply from immediate circulation and adding upward pressure to the token's price. This move has been seen as a vote of confidence in HYPE's rally by traders, who are now watching $105 as the next key resistance level.

The institutional investment in Hyperliquid ETFs has also played a significant role in the token's price surge. According to Bloomberg Intelligence, 30 institutional investors, including UBS and Bank of Montreal, hold combined positions worth close to $75 million in Hyperliquid ETFs linked to HYPE tokens.