Fri, November 14

Whale Wallet Sells Hyperliquid Tokens For Over $148M Profit Despite HYPE Price Decline

Whale Wallet Sells Hyperliquid Tokens For Over $148M Profit Despite HYPE Price Decline Market News
  • Whale wallet has sold 4.99 million Hyperliquid tokens for $228.76 million.
  • Realized profit is estimated to be around $148.63 million.
  • HYPE price is listed at $45.29, down by 1.93% over 24 hours.

A whale wallet has sold more than 4 million Hyperliquid tokens at an average price of over $45. Their realized profit stands at above $148 million, with still a portion of HYPE holdings remaining in their wallet. The whale wallet made a profit on HYPE price despite a decline in recent times. Interestingly, future estimates expect HYPE price to undergo more corrections.

Profit for Whale Wallet After Selling Hyperliquid Token

According to a report, a whale wallet has realized a profit of $148.63 million after selling 4.99 million Hyperliquid tokens. The average HYPE price, at the time of transaction, was $45.82. The tokens were sold at a total price of $228.76 million.

HYPE price is down at the moment and yet the wallet’s selling realized a profit because the whale had bought 5.07 million tokens 9 months ago. The average price of the Hyperliquid token was $16.23 when it was bought. The whale wallet now has HYPE holdings worth approximately $3.37 million left in their accounts, bringing the number of tokens to 77,089.

HYPE Price on the Chart

HYPR price, right now, is down by 1.93% in the last 24 hours. The Hyperliquid token is exchanging hands at $45.29 when the article is being drafted. The price further reflects that it has shed around 5.19% in the last 7 days but has gained 2.6% in a month.

Source: CoinMarketCap

The 24-hour trading volume is up by 10.53%. The decline earlier this month happened to be the first time it breached the bottom line. The value was expected to hover around $42, but was listed at around $40.5.

Ongoing movement on the price chart paints a picture of recovery, but it remains to be seen if the token breaches the bottom point again. The new ATH for HYPE price is anticipated at $60.

What’s Next for HYPE Price?

The whale wallet holding Hyperliquid tokens for profits, made over 9 months, shows a sign of long-term value. But, near-term estimates underline that HYPE price could recover for the next 3 months. HYPE is predicted to plummet by 22.83% to a value of around $34.12, amid the volatility of 9.82%. This could still be an uptick from $33.37, a point where Hyperliquid token is expected to trade in the next 1 month.

The resistance levels might be within the range of $47.74 and $50.60. The support margins are likely to remain somewhere between $44.88 and $42.02. Reclaiming resistance levels could take HYPE price to a new ATH, while breaking below support levels could see more declines.

The contents of this article are neither recommendations nor advice for crypto trading.

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Curious by nature, Ankur's core topic is Web3, but he's a versatile writer who can cover many more subjects. If you catch up with him in his free time, you'll find discussions often center around different movies and TV series. He's an easy person to talk to—you can literally chat with him about anything.

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