Key Takeaways
A total of 5 wallets deposited $22 million USDC to Hyperliquid, purchasing 4.33 million worth of HYPE. In the last seven months, the assistance fund bought 26M HYPE with 400 million USDC, generating a 725 million profit.
Hyperliquid [HYPE] surged by 8% in the last 24 hours as of press time, while HYPE’s volume rose by 60%, as per CoinMarketCap.
Despite this small rise, it was enough to make a new ATH of $46.32 for HYPE. To note, it was only a few points above the previous peak of $45.50.
Whales and Assistance Fund buying
Before the recent price high, five wallets linked to a single entity transferred 22.5 million USDC to Hyperliquid, according to SpotOnChain.
One wallet spent $4.33 million to acquire 99,931.55 HYPE at an average price of $43.30.
Another wallet placed buy-limit orders worth $4.5 million, while the three wallets collectively held $13.5 million, likely earmarked for future purchases.
Meanwhile, the Hyperliquid Assistance Fund has accumulated 26 million HYPE via consistent buys from HyperCore over the past seven months.
It has spent around 400 million USDC, generating profits that now exceed $722 million.
Source: HypurrScan
The Assistance Fund has been purchasing back about 350K HYPE each week.
The aim is to acquire more before the token unlock of the 9.92 million HYPE in 141 days. As the fee rises, the buybacks might gather pace, adding more momentum to HYPE.
This consistent growth in buybacks could drive HYPE to new heights.
Can HYPE stay above its ATH?
At the time of writing, HYPE traded in a falling wedge after the change of trend above the $35.
The wedge breakout pattern led to the breach of the new ATH at $45.95. This breakout may indicate a bullish extension, as well as the points of support at the levels of approximately $40 and the resistance at the new ATH.
Part of MACD indicators showed a favorable impulse where histogram bars were on the rise, which indicated a possible further rise.
Source: TradingView
Nevertheless, there may be a reversal down to $40 in case the price cannot stabilize at a position that is above the ATH, with the MACD agreeing with the low-down below this position.
Any price reversal below $40 could be an indication of a retracement.
On the contrary, staying above this may result in a further leg up.
What’s next after Grayscale, ByBit listing?
Besides this appreciation, the future of HYPE could be brighter after Bybit, among the first Tier 1 exchanges to list the token.
This incident may provide it with more popularity in the crypto environment, as well as attract more liquidity.
Source: ByBit
Also, Grayscale published a list of its assets under consideration in the third quarter of 2025, now with 31 tokens on it, including BONK, HYPE, and others.
