Hyperliquid Price Hits New Peak as Whale Buys $36M

Hyperliquid's price has surged 27% in the past week, with its value surpassing $97 on September 23rd. This rally is driven by the project's continuous buyback and burn program, as well as capital inflows from market participants.

The altcoin's burn program has tightened supply, with over 48.86 million HYPE tokens worth more than $4.76 billion removed from circulation.

A mysterious whale bought another 373,730 HYPE valued at $36 million, bringing its total holdings to about 4.7 million tokens worth $400 million in just a month.

Hyperliquid Strategies has also accumulated 33.60 million HYPE worth $3.20 billion, equivalent to 15% of the circulating supply and 3% of the total supply.