Whales Buy $18 Million Worth of HYPE, Driving Price Surge

A recent surge in the HYPE token’s value has caught the attention of the crypto community. Two major investors have made substantial purchases, totaling over $18 million, as tracked by Lookonchain. This move follows a rise in price across the past week and 24 hours, with HYPE experiencing a significant jump of nearly 20%. The increased buying activity is being observed not only from large whale portfolios but also in the broader derivatives market. Open interest on HYPE’s derivative market has surged by over 15%, indicating investor eagerness to capitalize on the token’s momentum.