Hyperliquid Price Dips on Whale Withdrawals Amid Ongoing Demand

Hyperliquid's (HYPE) price dipped nearly 3% to around $80.80 after significant withdrawals of 83,630 HYPE tokens worth $6.69 million from Coinbase Prime by two linked wallets.

The wallets have accumulated about $14.83 million in HYPE over the past two weeks, signaling strong whale activity.

Meanwhile, Bitwise's BHYP ETF holds $185.96 million in HYPE with a 70% staking ratio, tightening available trading supply.

Despite price pressure from broader crypto market sell-offs and Federal Reserve inflation concerns, ongoing staking and whale buybacks support demand.