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Crypto

Whale Bets Big on HYPE with $32.87M Staking Move

Guavy AI Editorial Team
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HYPE
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A significant transfer of HYPE tokens has been recorded on-chain, with an institutional liquidity provider, FalconX, sending 557,902 HYPE tokens worth $32.87 million to a whale's wallet.

The whale immediately staked the entire amount on Hyperliquid, contributing to the exchange's validator security and governance system.

HYPE has been trading at around $57-59 since June, down 24% from its all-time high of $76.67 reached on June 16.

The move comes as Hyperliquid continues to attract institutional staking activity, with the exchange's total staked HYPE climbing toward 436 million tokens amid rising staking activity.

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