Hyperliquid whale stakes $100M in HYPE amid market volatility

A single whale has staked over $100 million worth of Hyperliquid (HYPE) tokens, involving approximately 1.255 million HYPE. This move comes as the asset faced downward pressure, breaching the $80 support level and trading near $79 following broader market weakness linked to lower-than-expected Consumer Price Index (CPI) data.

Total staking activity for HYPE has reached approximately 439.9 million tokens, valued at $35.2 billion, representing roughly 44% of the total supply. While staking reduces the immediate circulating supply, the derivatives market has remained bearish, with significant outflows reported in the futures market.

Trading volume has also shown signs of weakness. Recent weekend trading patterns indicated exceptionally low participation compared to seasonal norms, with volume ratios significantly below historical benchmarks. Technical indicators suggest price action is currently negotiating resistance levels around the $79.80 to $80.30 range.