Whale Stakes $32.9 Million of HYPE Tokens on Hyperliquid Platform

A large crypto whale transferred 557,902 HYPE tokens, valued at roughly $32.9 million, from an unidentified wallet to HyperCore, the core trading engine of the Hyperliquid Layer 1 blockchain. On‑chain analytics indicate the tokens were first received from crypto prime broker FalconX and then deposited for staking on the network.

The move follows a previous whale staking episode in which 2.93 million HYPE (about $172 million) were placed through multiple wallets likely controlled by the same entity. After the transfer, HYPE traded at $57.48, down 1.59 % in the last 24 hours and 2.13 % for the week, marking a fourth consecutive daily decline since July 21. The broader cryptocurrency market showed similar weakness, with $244 million in leveraged positions liquidated in the past day, $215 million of which were long positions.