Whale Makes Big Bet on $HYPE as Market Takes a Dip, Holding $3.53M in Spot and Leveraged Long Position
A recent and substantial deposit of 3.92 million $USDC made to #Hyperliquid, a decentralized exchange, by a whale has captivated the crypto community. The blockchain was just as bold as the whale. It showcased over the past 17 hours this deep-pocketed investor's significant and confident play to purchase more $HYPE tokens. Despite the current market challenges, this transaction may indicate the whale's long-term belief in the future of the $HYPE token. Currently, the whale possesses 241,876 $HYPE on spot, which amounts to about $3.53 million. But this large position is not without its dangers. The whale's spot holdings are now showing quite an unrealized loss—$1.47 million, to be exact—that's a 29.4% decrease in value. And okay, we get it: these market movements are totally volatile, and no one holding a huge position in any crypto right now is really safe. […]