HYPE Wallets Stake $53M on Hyperliquid

Four wallets have made significant moves in the HYPE market, withdrawing $53.92 million worth of tokens from Coinbase over recent months and staking them on Hyperliquid.

This has pushed the total staked holdings across these addresses above $50 million.

The price action of HYPE currently holds a bullish structure above its EMA50 at $78.3 and EMA200 at $67.49, but the MACD death cross at 0.64 signals fading momentum.

A healthy retracement to the 50-EMA support at $78.3 appears probable before further continuation, as price testing upper Bollinger resistance at $85.35 and lower support at $78.78 indicates.