HYPE Whale Transfers Soar Amid Price Correction
Large HYPE token holders transferred more than $21 million through centralized exchanges on September 28, as the price of Hyperliquid's token pulled back from its recent highs.
An unknown wallet deposited 177,518 HYPE worth $16.08 million into OKX and Bybit, while a separate wallet linked to Hypersphere Ventures sold 62,869 HYPE for approximately $5.78 million, earning an estimated $2.13 million in profit.
The token's price traded around $90 to $91 during the session after previously reaching record highs near $95. Derivatives activity remained substantial, with CoinGlass recording about $1.24 million in HYPE futures liquidations over 24 hours and a volume of nearly $1.6 billion.
In contrast, Hyperliquid's Assistance Fund continued to buy and burn HYPE tokens, purchasing 10,400 worth around $956,800 during the same period at an average price of $91.97.