Hyperliquid whales target $79 after buys
- Hyperliquid (CRYPTO:HYPE) whales resumed accumulation after the token reached a record high of US$76.95.
- Retail traders have driven recent gains, while spot market data showed US$55.51 million in net selling over the past 10 days.
- Market data suggests US$79 remains a key upside liquidity target if buying momentum continues.
Hyperliquid (CRYPTO:HYPE) continued to attract investor attention after reaching a record high of US$76.95 on June 16, with whale investors resuming purchases as the token's year-to-date gain approached 179%.
The latest rally has outperformed much of the broader cryptocurrency market, although trading activity shows retail investors have been the primary drivers of recent price gains.
“Garrett Jin still has a time-weighted average price order running, meaning he is set to keep buying HYPE in increments over a defined period,” according to on-chain data cited by market observers.
Blockchain data showed Garrett Jin purchased 71,092 HYPE worth approximately US$5.06 million, while another whale acquired 50,000 HYPE valued at about US$3.58 million and held roughly 200,000 HYPE worth US$14.33 million.
Market participants said continued whale accumulation could support prices despite US$55.51 million in net spot selling over the past 10 days, and following the latest trading activity the Hyperliquid token remained near its recent all-time high levels.
Data tracking the whales-retail delta showed retail traders have controlled market direction since June 9, with a reading of negative 0.095, while whales had previously reduced exposure before returning as buyers over the past day.
Liquidation heatmap data identified US$79 as a significant liquidity cluster above the current market price, suggesting traders are monitoring that level as a potential upside target if buying demand continues to absorb selling pressure.
At the time of reporting, Hyperliquid price was $67.91.
