HYPE price has continued to increase due to the increased number of trading activities from crypto whales

HYPE price has continued to increase due to the increased number of trading activities from crypto whales. Since April 7, the token has become one of the top gainers

The price of HYPE, a token on the decentralized exchange Hyperliquid, has seen a significant surge in recent times, driven by increased trading activities from crypto whales. Since April 7, the token has become one of the top gainers in the crypto space, jumping by 300% and hitting a new all-time high. Its new growth has also sparked renewed interest in the token amid the heightened market volatility.

Recently, James Wynn, a popularly known X trader, closed a $1.25 billion long bet on Bitcoin using 40x leverage on the decentralized exchange Hyperliquid. As reported by Lookonchain, the trader lost about $13.4M after BTC/HYPE dropped by 1.3%. However, after that loss, he made another bet against Bitcoin by opening a $111.8 million short position for 1,038.7 BTC at $107,711.1, with his liquidation price set at $149,100.

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After losing a portion of his funds in a massive trade, James Wynn, a trader on Hyperliquid, has managed to profit from another large position. As reported by Lookonchain, Wynn has withdrawn $28M USDC from Hyperliquid, making $25.2 million in profit. The data also recorded that in the last 75 days, the trader has made 38 successful trades, winning 17 with a 45% success rate.

Another whale, 0x82d8, who kept 1.45 million worth of HYPE tokens ($55 million) for five months, has sold a part of his holdings. He bought the tokens between December 7 and January 9 for $26.58 million at an average of $18.39 each. Over the last three days, he sold 395,000 HYPE ($14.51 million) at $36.69 and still owns 1.05 million HYPE ($40.5 million), securing a total profit of $28.4 million.