High Stakes Capital fully exited the 602,421 HYPE position for $22.9m at a valuation of $38, extending a broad wave of profit-taking among Hyperliquid whales near a record high.
Summary
- HYPE is trading at about $38.86 after whale High Stakes Capital completely exited a position worth about $22.94 million in 24 hours.
- The address issued 602,421 HYPE at an average price of $38.08, following the previous sale of 300,000 HYPE for $11.45 million at $38.17 each.
- The unwind extends a broader pattern of profit-taking among Hyperliquid’s biggest whales after the alternative-focused token hit a record high near $40.
A major Hyperliquid (HYPE) whale known as High Stakes Capital has liquidated more than 600,000 HYPEs in the last 24 hours, issuing nearly 22.94 million coins and putting temporary pressure on the high-end Hyperliquid token. ChainCatcher, citing Onchain Lens data, reported that the address sold a total of 602,421 HYPE for approximately 22.938 million USDC, at an average price of $38.08, with the last batch of 152,421 HYPE making approximately $5.82 million and completing the exit. The sale comes as HYPE, the native token of Hyperliquid’s decentralized and derivatives ecosystem, is trading just below recent highs of around $38.86, up 2.72% on the day.
PANews, also citing Onchain Lens, noted that in the last 12 hours the same whale has already sold 450,000 HYPE for $17.12 million USDC, with an estimated price of $38.05, while holding 152,421 HYPE worth $5.68 million before the last leg. Earlier, Phemex News reported that High Stakes Capital issued 300,000 HYPE for $11.45 million at an average of $38.17, while it remained at 302,421 HYPE with an estimated value of $11.54 million and an accumulated profit of more than $33.2 million. This wavering breakout pattern shows that the whale is systematically selling for strength in the $38–$39 range rather than dumping one item, a strategy that usually limits volatility but can reach higher when orders are clear.
HYPE is part of the derivatives and DeFi sector, which serves as the main token of the Hyperliquid network, where traders use the platform for fixed futures and dynamic predictions. The Hyperliquid token previously touched an all-time high near $39.93 as 24-hour trading volume rose to nearly $496 million and open interest rose to $10.1 billion, according to DailyCoin’s previous report on the HYPE breakout. At the same time, the total amount locked in the protocol jumped more than 369% in a matter of weeks, from about $311.55 million to $1.462 billion, underscoring the magnitude of the capital circulating in the derivatives-focused DeFi.
Recent data suggests that large HYPE holders are actively managing exposure around the $35–$40 band. KuCoin Flash reported that another genesis whale, connected to an address known as tummy.hl, started selling 498,000 HYPE in TWAP orders for more than 20 million dollars, and the sale is expected to be completed within 21 hours. Coingabbar’s price analysis noted that HYPE was trading near $34.73 in early February, up 30.53% over the past month, with open interest at $1.65 billion as trading volumes fell 18% to around $805.7 million, suggesting orderly but crowded trading. On the contrary, the outflow of High Stakes Capital looks like a consumption and a textbook profit-making in the extended market, as derivative tokens and exchange-linked assets continue to overtake much of the crypto complex.
