Whale Stakes $32.9M on Hyperliquid as Price Extends Weekly Decline
A significant transaction has been reported in the Hyperliquid (HYPE) ecosystem after Whale Alert tracked a transfer of 557,902 HYPE tokens valued at approximately $32.9 million from an unknown wallet to HyperCore.
HyperCore is the core trading infrastructure powering the Hyperliquid Layer 1 blockchain and serves as the network's native trading engine, supporting fully on-chain spot and perpetual futures order books.
The transfer was made by a large investor who received the tokens from crypto prime broker FalconX before depositing them into Hyperliquid for staking, according to Lookonchain. This move would represent another sign of growing confidence among large holders in the network's staking ecosystem.
Despite continued whale accumulation, HYPE price has remained under pressure. At the time of writing, the token traded at $57.48, down 1.59% over the past 24 hours and 2.13% for the week, reflecting cautious market sentiment.