What to Know A Hyperliquid whale transferred $10.7 million in HYPE to Kraken, potentially securing profits from an investment that gained 2,200%. HYPE trades near $82, with weakening technica
A Hyperliquid whale transferred $10.7 million in HYPE to Kraken, potentially securing profits from an investment that gained 2,200%.
HYPE trades near $82, with weakening technical indicators placing immediate support at $79 and additional downside risk around $76.50.
The investor retains approximately 127,424 HYPE tokens worth $10.4 million, while further exchange deposits could increase potential selling pressure.
A Hyperliquid whale has transferred approximately $10.7 million worth of HYPE tokens to Kraken, signaling potential profit taking. The investor originally purchased 257,928 HYPE tokens at $3.50 each, spending approximately $903,000 on the position.
According to blockchain transaction data, the wallet transferred 100,276 HYPE tokens worth $8.17 million to a Kraken deposit address. Another transaction involved 30,228 HYPE tokens valued at $2.55 million, bringing the combined transfers to 130,504 tokens.
Both transactions involved tokens withdrawn from Hyperliquid staking before the investor deposited them into the cryptocurrency exchange. The transfers suggest possible selling activity, although exchange deposits do not necessarily confirm completed sales.
At HYPE’s reported market price near $82, the original investment had grown to approximately $21 million. This represents gains exceeding 2,200%, reflecting the substantial increase from the whale’s initial purchase price. Meanwhile, the wallet retains approximately 127,424 HYPE tokens worth $10.4 million, assuming the investor made no additional transactions.
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HYPE traded near $82, representing a decline of approximately 16% from its recent peak near $98. The cryptocurrency also remained below important moving averages, indicating weakening short-term market momentum.
Its 50-day moving average stood near $83.70, while the 20-day moving average hovered around $86. Additionally, the relative strength index remained in the low 40s, reflecting reduced buying activity.
Technical indicators identified $79 as immediate support, with the 100-day moving average near $76.50 providing another potential support level. A sustained decline below $79 could expose HYPE to further losses toward $76.50 as traders assess market demand.
Source: TradingView
Conversely, reclaiming $84 could strengthen recovery prospects, placing resistance near $87.50 within reach. Further gains could bring the $90 and $95 price levels into consideration. Despite the substantial exchange transfers, HYPE experienced no immediate collapse, while relatively low trading volume suggested limited selling activity.
The investor’s remaining HYPE holdings represent a substantial position that could influence market supply through additional exchange deposits. Further transfers to Kraken could increase potential selling pressure, particularly while HYPE trades below its short-term moving averages.
Meanwhile, longer-term moving averages maintained an upward trajectory, suggesting that the broader market structure had not completely weakened. Market participants are monitoring the wallet’s remaining holdings alongside trading volume and support levels to assess potential price movements.
The Hyperliquid whale has transferred approximately $10.7 million in HYPE to Kraken while retaining tokens valued near $10.4 million. The transactions highlight substantial unrealized and potentially realized gains, although the exchange deposits alone do not confirm completed sales.
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