A large crypto investor is sitting on more than $12 million in unrealized profit from a 5x leveraged long position on HYPE, as the token continues to trade above the $32 level.
The HYPE Whale’s On-chain Activity & Position Details
On-chain data from HyperTracker suggests the whale’s HYPE long position carries a notional value estimated in at around $12 million, amplified through 5x leverage. While exact figures vary slightly across trackers, the position size implies a capital deployment likely exceeding $20-25 million before leverage, placing it among the largest visible HYPE trades in recent weeks.
Based on the timing of the position’s opening roughly 15 to 16 days ago, the whale’s average entry price was in the mid-to-high $20 range, well below current spot levels. As HYPE rallied above $30 and later reclaimed $32, the trade’s floating profit expanded rapidly, crossing the $12 million mark.
The same wallet is also running a 20x leveraged long position on Solana, which currently shows a floating loss of approximately $1.2 million. The sharp contrast between the two positions illustrates the uneven performance across the altcoin market. While HYPE benefited from strong directional momentum and rising derivatives interest, SOL’s comparatively muted price action has worked against the trader’s higher-leverage exposure.
HYPE’s Recent Surge and Future Outlook
HYPE has been one of the stronger performers in the current market window, recording double-digit gains over recent sessions, with some intraday moves exceeding 25% during peak momentum phases. HYPE currently trades at $32.46, reflecting a 48% surge from last week. The rally has been accompanied by increasing trading volume and open interest, particularly in perpetual futures markets.
HYPE’s rally has also been supported by robust liquidity and elevated derivatives participation on Hyperliquid, where the token has seen growing perpetual trading activity. High liquidity conditions allow large positions to be opened and adjusted with reduced slippage, making the asset more attractive to whales and high-frequency traders.
From a technical perspective, HYPE’s breakout above $30 and subsequent consolidation above $32 marked key inflection points. These levels previously hosted concentrated leveraged exposure, and their successful reclaim appears to have triggered renewed long interest.
Traders are now closely watching immediate support in the $30-$32 range, near-term resistance at $35, upside extension zone at $38-$40, if momentum persists. For now, sustained trading above $32 continues to favor long-side positioning, though elevated leverage means any breakdown below support could trigger rapid liquidations.
Temitope Olajide
The CoinRemark Team
