HYPE reaches new price as leveraged whales post profits - Coinfea

Hyperliquid has continued to establish itself as one of the key performers of the 2025 cycle, as HPYE recently hit a new all-time high. The token traded above $44 on Monday, on a mix of direct purchases and BTC bets. HYPE has been showcasing the increased usage of Hyperliquid, as well as speculations of rising to a three-digit price.

HYPE climbed again on Monday, reaching a new high above $44.70. The token is yet to see selling pressure, while derivative traders have been mostly bullish. One of the top HYPE whales betting long on the token has seen unrealized gains of over $13.93M. The whale is ranked at #58 on the trading leaderboard, with over 121% in profits in the last month, and over $10M in realized gains for the past 30 days.

Whales are also convinced of the potential of HYPE, with most of them buying on Hyperliquid or other exchanges. Open interest for HYPE is above $1.89 billion after constant growth in the past few days. Long and short ratios are still balanced, as traders are still wary of a correction. The HYPE rally also spread to the chain’s major meme token, PURR. The asset jumped by over 19% in the past day, moving the token above $0.29. PURR has been volatile compared to HYPE, but it is considered another proxy for the success of Hyperliquid.

HYPE sets expectations of a bigger jump

So far, HYPE has shown the overall crypto market sentiment, dropping as low as $12 during the March and April bearish period. Currently, the token is free from selling pressure or unlocks, and continues to act as a meme coin, supported by the Hyperliquid community. There are no outsized attempts to short HYPE even at its new record price.

HYPE remains risky, as most of its volumes hinge on the native exchange, with few other tools for price discovery. The token may continue to rally, as long as the crypto market conditions remain positive. Currently, Hyperliquid achieved the highest earnings among decentralized protocols, both daily and for the past 30 days. Hyperliquid generated $65.3M in earnings, with constantly expanding volumes and trading.

The perpetual futures DEX is also in line to break above 500K registered users while improving its volumes and inflows since April. Hyperliquid has also established itself as the exchange for whales, with some addresses easily posting over $300K in daily volumes. The high-profile performance of whales continues to boost the influence of Hyperliquid.

In the past few days, Hyperliquid’s most notorious trader James Wynn has abandoned his large-scale positions, instead remaining with one minimal BTC long with 40X leverage. Wynn has seen some skepticism about his trades, suggesting the positions were hedged on other markets and through anonymous accounts. Wynn also does not hold any HYPE tokens. Wynn shifted again to promoting meme tokens, posting about looking into low-priced tokens with the potential for a 1000X breakout.