Can Hyperliquid price break $100 as whale buys $36M in HYPE?
Hyperliquid [HYPE] has gained 2.85% in the past 24 hours at press time, with its weekly gains hitting 27%. Notably, the altcoin made a new peak after its price surpassed $97 on the 23rd of September. Hyperliquid‘s rally is driven by its continuous buyback and burn program alongside capital inflows from market participants. However, the potential distribution from market makers could cap HYPE’s uptrend. HYPE token burns peak as whales position To start with, Hyperliquids burn program has tightened supply. To date, over 48.86 million HYPE, worth more than $4.76 billion, have been permanently removed from circulation. Additionally, whales were positioning. For instance, a mysterious whale bought another 373,730 HYPE valued at $36 million. This brought the whales total holdings to about 4.7 million tokens worth $400 million in just a month. Source: Arkham Similarly, Hyperliquid Strategies is not slowing down, having accumulated 33.60 million HYPE worth $3.20 billion. This is equivalent to 15% of the circulating supply and 3% of the total supply. Even from a general market outlook, HYPE was still being bought. In fact, on Hyperliquid, its Open Interest (OI) reached an all-time high of $18 billion as the price peaked. Hyperliquid price action – Correction or continuation? Hence, HYPE was making new highs as its









