Hyperliquid Whales Take $5M as HYPE Price Reverses

TLDR

• Santiment reported that four Hyperliquid whale wallets earned approximately $5 million in profits during the October rally.
• One large wallet reportedly secured $2.39 million after selling HYPE tokens near $94 to $95.
• The tracked wallet sold approximately $225,000 worth of HYPE every five minutes before closing its position.
• Stanley Druckenmiller disclosed an investment in Trade[XYZ] following its partnership announcement with Intercontinental Exchange.
• Four major traders reportedly held profitable HYPE short positions, while a separate large buyer faced losses exceeding 11%.

Hyperliquid whales sold HYPE tokens during a late October rally, with four large wallets taking roughly $5 million in profits, according to blockchain analytics firm Santiment. The selling followed renewed interest in the decentralized trading platform.

The activity came after billionaire investor Stanley Druckenmiller publicly backed Trade[XYZ], a company developing markets on Hyperliquid. His October 29 announcement drew attention to plans for regulated trading in the United States.

Druckenmiller Backs New Hyperliquid Trading Plan

Druckenmiller said on X that he had invested in Trade[XYZ] and expected to use its products. His statement concerned the trading company, not a direct purchase of HYPE tokens.

Intercontinental Exchange, which owns the New York Stock Exchange, also announced an investment in Trade[XYZ]. The firms intend to offer round-the-clock futures trading in the United States, pending regulatory clearance.

Their planned U.S. trading venue would cover stocks, commodities, currencies, and cryptocurrencies, as reported by Blockonomi. The partners have not disclosed a launch date. Trade[XYZ] already operates markets on Hyperliquid outside the United States.

Hyperliquid Whales Sell Near Rally Peak

Santiment identified wallet 0xa2ce…3126 as one of the sellers. The address had accumulated HYPE since late May before reducing its holdings as prices approached $94 to $95.

The wallet reportedly sold approximately $225,000 in tokens every five minutes. By the end of the sales, the address held no HYPE and had recorded $2,395,168 in profit.

Other Hyperliquid whales also closed positions during the rally. The selling coincided with HYPE’s sharp price increase after the ICE announcement, although public blockchain records cannot establish why individual traders placed orders.

Large Traders Take Opposite HYPE Positions

Santiment’s account also described four major traders opening short positions. Those trades were profitable at the time of its assessment. Short positions gain value when the underlying asset’s price falls.

A separate large buyer remained exposed to the decline and faced losses exceeding 11%, the report said. The figures describe tracked Hyperliquid whales, not the financial results of all platform users.

HYPE Price Falls Below Near-Term Level

HYPE subsequently fell more than 12% from its rally peak. The reported trading range as of November 5 stood between $81.79 and $85, after the token dropped below the $84.15 level.

A November 3 chart assessment identified the $76 to $78 area as another level to watch. It described lower price targets only if that support failed.

The drop followed a rapid rise tied to the proposed U.S. trading service. Regulatory approval remains outstanding, and the companies have not announced when the new market could begin operating.

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