HYPE Token Surges Above $82 Amid Whale Activity and Fund Deposits
HYPE Token Hits Fresh All-Time High
The price of HYPE has reached a new record high above $82, according to CoinGecko data. This surge in value is accompanied by significant whale activity, with one address holding a long position worth around $108 million now sitting on over $55 million in unrealized gains.
A well-known crypto fund, Multicoin Capital, has deposited 427,422 coins, valued at approximately $31.74 million, to Coinbase Prime over the past three days. This move has raised eyebrows among traders, as deposits to a centralized exchange often precede a sale.
A short seller, Loracle, is facing liquidation near $101 after accumulating significant losses on their bearish bet. If the price climbs above this level, the position will be forcibly closed.