HYPE Token Soars on Whale Accumulation, Surpassing SUI Market Cap

A significant accumulation of HYPE tokens by a prominent whale has sparked a price surge for the token. This move led to the HYPE token surging 14% within the past 24 hours and earning top place on CoinMarketCap’s gainer list. The whale’s actions, which included multiple large purchases totaling over $11.76 million, have been tracked by blockchain analytics platform Onchain Lens. On-chain transactions indicate a notable spike in Open Interest for the Hyperliquid layer 1 network, indicating increased investor confidence and potential future growth.