Key Takeaways:
- Whale trader on Hyperliquid earns over $13 million as HYPE token hits an all-time high of $44.75, backed by strong leverage and rising open interest.
- Over 170 traders net $10M+ in profits, fueling speculation that HYPE’s $14B market cap could soon challenge Cardano’s $22B position in the top 10.
Decentralized exchange Hyperliquid is continuing to make waves across the crypto landscape, with its native token HYPE surging to a new all-time high of $44.75—an 11.27% jump in the last 24 hours. The rally has not only fueled growing interest in the platform but also minted massive profits for its top traders. Notably, one whale has raked in over $13.7 million in unrealized profits, capitalizing on a 4x leveraged long position, according to data from HyperDash.
Whale Profits and Market Momentum
The recent HYPE price surge underscores the growing influence of Hyperliquid in the DeFi trading space. The unnamed whale, whose long bet was placed at significantly lower price levels, benefited immensely from the rally that pushed the token past the critical $44.4 threshold. With analysts now speculating a possible move toward $100—echoing predictions made by crypto veteran Arthur Hayes last month—market momentum appears to be building.
HYPE’s rise has also been mirrored in the derivatives market. According to Coinglass, the open interest in HYPE futures jumped 16.6% to more than $2.07 billion, while 24-hour liquidations crossed $11 million, indicating heightened trading activity and volatility.
Traders Mint Millions as Popularity Soars
Hyperliquid’s appeal is not limited to a few whales. Data shows that over 170 traders have each made more than $10 million in profit, while a staggering 1,589 traders have raked in over $1 million. Interestingly, many of the $10 million-plus earners registered returns of less than 200%, suggesting that large initial capital investments were a major driver of these gains—highlighting the platform’s allure to high-stakes players.
One such name is James Wynn, a frequent headline-maker in crypto circles. Known for his billion-dollar Bitcoin trades, Wynn was recently revealed to have lost nearly $100 million in potential profits due to aggressive hedging strategies. Despite being one of the most active traders on the platform, Wynn has publicly criticized Hyperliquid’s referral mechanism, revealing that he only earned $34,000 in referral rewards despite generating significant signups and volume. He called the system “disproportionate” and urged the platform to reconsider its payout structure.
Also Read: Hyperliquid DEX Gains Ground on Binance in BTC Perps Market
Can HYPE Crack the Top 10?
With a current market capitalization of $14 billion, HYPE is inching closer to top 10 territory, where Cardano (ADA) currently sits with a $22 billion valuation. If the rally continues and trading interest deepens, HYPE could potentially challenge ADA for its spot—marking a significant moment for decentralized exchanges in general.
As speculation around a potential Binance US listing intensifies, all eyes remain on Hyperliquid and its growing army of profit-hungry traders.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
