HYPE Price Shoots 13% Amid Crypto Whale Trading Frenzy

Hyperliquid native token HYPE has surged 13% on May 26, hitting $39.9, an all-time high, as momentum turned sharply bullish.

The surge followed after a whale closed $1 billion worth of Bitcoin short positions built with 40x leverage, following a $15.87 million loss in just 15 hours, per LookOnChain data.

Top trader @JamesWynnReal closed $1B worth of $BTC short positions 2 hours ago, losing~～$15.87M in just 15 hours.https://t.co/IUTpCuzoSB pic.twitter.com/Qe8zHP2o62

The token is currently trading at $38.59 at press time, marking an impressive 11% increase over the past 24 hours.

Hyperliquid reached new all-time highs again:
+ Open interest: $10.1B
+ 24h fees: $5.6M
+ USDC TVL: $3.5B

Welcome to all new members of the ecosystem. pic.twitter.com/AoWVPRINGA

Prominent crypto trader James Wynn, last week, closed a massive $1.25 billion notional long position on Bitcoin using 40x leverage on the onchain decentralized exchange (DEX) Hyperliquid.

He then flipped bearish on Bitcoin, switching from long to short. On Sunday, Wynn opened a BTC short position of 1,038.7 BTC ($111.8 million) at $107,711.1, with a liquidation price of $149,100.

With whales like Wynn placing billion-dollar positions on Hyperliquid, the attention around the protocol has intensified. Traders are betting that early regulatory engagement could further legitimize HYPE’s uptrend.

One trader wrote on X that the “growth has reached the ceiling,” adding that there are strong competitors.

“Although there are many giants and extraordinary people supporting Hype, I think that the best short-selling target with large capacity, good liquidity and clearest logic may be Hype.”

Hype做空的时刻还没到。但是快到了。

Hype现在回购多少，一天算5M，一年肯定1B不到，因为有熊市和周期存在。

目前5M收入已经是巅峰时刻了。增长肯定有限了。

还有二期空投释放和团队解锁。按FDV来算，37B的价格，哥们，全流通的话PE 接近40了，目前流通也PE13，不算贵。…

Further, James Wynn withdrew 28M USDC from Hyperliquid, with a $25.2M profit. According to LookOnChain post on Monday, he made 38 trades on Hyperliquid in the past 75 days. Of these trades, 17 were profitable with a 45% win rate, the post read.

Meanwhile, Hyperliquid reported that HyperFND’s official X account was compromised on Saturday.

“The Hyperliquid blockchain is unaffected. Do not interact with any links or tweets from that account,” the protocol posted on X.

HyperFND twitter account was compromised.

The Hyperliquid blockchain is unaffected. Do not interact with any links or tweets from that account.

Per the latest update on Monday, Hyperliquid said that the team conducted a “thorough investigation” with assistance from X’s security.

“There was no compromise of internal systems, email, or associated credentials,” the update read. “Hardware 2FA was untouched.”

The community warned users of any project and not just Hyperliquid, to stay vigilant and verify the news shared on any social media accounts. “If an announcement looks suspicious, do not interact,” the team cautioned.

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