Hyperliquid Staking Surge Tests HYPE's $52 Support
Hyperliquid's staking activity surged 40% in recent days, pushing its total staked tokens to around 436 million. This increase was driven by a large deposit of 1.49 million HYPE tokens worth approximately $88.2 million from a single entity.
The entity distributed the stake across eight wallets, reducing concentration within a single address and suggesting long-term positioning rather than short-term trading activity.
As HYPE returned to one of its most closely watched support zones around $52-$58, on-chain data showed that long-term holders were increasing their exposure rather than exiting.
This has led some to speculate that staking may be absorbing available supply during the correction. However, a decisive break below $52 could weaken the broader bullish structure and invite further selling.