Hyperliquid Whale Activity Fuels HYPE Token Surge Towards $50

CryptoQuant data reveals a surge in whale activity on Hyperliquid, driving the native token HYPE towards a new all-time high. Large investors have been accumulating substantial amounts of HYPE while witnessing significant liquidations and an increase in trading volume across both spot and futures markets. HYPE’s price has risen 2.8% in the past 24 hours, reaching $43.20, with eyes on breaking through the key resistance at $50. This surge coincides with Hyperliquid’s aggressive buyback program of $3 million daily, as well as a strong net long position from whales on the platform, which are currently dominating the market share.