Hyperliquid Extends Rally as Whale, Institutional Buying Continues
Suehyeon Lee
Summary
- Lookonchain said institutional and whale investor buying in Hyperliquid (HYPE) is continuing.
- A wallet address believed to be linked to Galaxy Digital bought 158,100 HYPE worth about $8.8 million.
- A newly created wallet also withdrew 536,247 HYPE worth about $29.87 million from Coinbase, as gains continue amid expectations of institutional inflows.
Forecast Trend Report by Period
Institutional and whale buying of Hyperliquid's HYPE token continues.
Lookonchain said on May 21 that wallet address 0xBED9, believed to be linked to Galaxy Digital, bought a total of 158,100 HYPE over the past two hours. The purchases were worth about $8.8 million.
A newly created wallet, 0x4CBB, also withdrew a total of 536,247 HYPE from Coinbase over the past two days. The amount was valued at about $29.87 million.
Hyperliquid has been extending its gains amid expectations of institutional inflows. Signs of large-scale HYPE purchases and staking activity by a wallet linked to Grayscale had also been detected earlier.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
