New Whale Enters HYPE Market

A new whale has opened a 10X leveraged long position on HYPE as the token approaches $38. After a period of weakness, HYPE is gearing up for a potential price shift.

Whale Activity

A newly created wallet established a long position on Hyperliquid. The trader remains anonymous and not linked to known wallets of Hyperliquid figures like James Wynn or Aguila Trades. Interestingly, Wynn has sold some of his staked HYPE to fund other trades and is currently long on BTC.

The new whale deposited $4.16M USDC, funded initially through a null address, to initiate a long position on HYPE and make smaller purchases.

> A newly created wallet deposited $4.16M $USDC into #HyperLiquid and opened a $HYPE long position with 10x leverage. Link to tweet
>
> — Onchain Lens (@OnchainLens) July 4, 2025

Although the whale’s position is valued at just above $2M, the liquidation price is currently unknown. While considered small and unlikely to attract immediate attention, it reflects confidence in HYPE’s potential.

HYPE Likely to See Higher Levels

HYPE remains close to its previous peak around $45, with open interest sitting at $1.6B and minimal changes recently. There’s a notable shift in trading positions, with a 65% long versus 35% short bias, indicating expectations of a breakout.

The long/short ratio for HYPE appears variable. On most exchanges, the ratio is balanced, but Hyperliquid shows a significant short dominance, which could lead to a short squeeze. Furthermore, fewer traders are placing limit orders at $50, suggesting potential upward movement driven by fee-burning activity.

Optimistic forecasts predict HYPE could soar to $100 with more whale purchases. Hyperliquid’s competitiveness is rising among older platforms as it capitalizes on daily fee generation—up to $2M daily.

Wintermute’s Activity on Hyperliquid

In its first year, Hyperliquid attracted risky traders and anonymous whales, but it seems to be reeling in market makers now. Recently, a wallet possibly linked to Wintermute transferred $8.3M USDC from Arbitrum to Hyperliquid.

Wintermute’s portfolio does not show direct HYPE ownership, but past cycles indicated it has sold HYPE from its wallets. Estimates suggest Wintermute holds approximately 4.17M HYPE and has regularly participated in the market since early 2024.

Currently, there are rumors that Wintermute is primarily long on HYPE, and the recent influx of USDC may bolster long positions, setting sights on recapturing levels above $40.