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Whale pulls 72K HYPE off Gate.io, expanding a $168M stash as spot buyers face off against crowded leveraged shorts around the key $40 support zone.<\/p>\n
\n Summary<\/span>\n <\/p>\n <\/p>\n A crypto whale controlling the address 0xEe0A18B394ecE1D7bE81Be15d6cEc3Ac7707b71C has withdrawn 72,264 HYPE from centralized exchange Gate.io, a haul worth roughly $30.6 million at recent prices, pushing its total holdings to 396,820 HYPE or about $168 million. On-chain monitors have flagged the address repeatedly over the past month as one of the most aggressive accumulators of Hyperliquid\u2019s native token during bouts of market stress.<\/p>\n <\/p>\n Earlier in March, on-chain analytics outlet PANews reported that the same wallet, labeled \u201c0xee0,\u201d pulled 55,000 HYPE worth approximately $2.1 million from Gate.io, taking its stash to 194,557 HYPE valued near $7.44 million at the time, signaling an early conviction bid into weakness. A separate report from Phemex noted that a newly created wallet, again tied to 0xee0, had already withdrawn 139,557 HYPE\u2014then worth about $5.49 million\u2014from Gate.io, underscoring how quickly the position has scaled.<\/p>\n The latest accumulation wave lands as HYPE<\/a> has traded in the $40 area after rebounding from a February low near $28 where large buyers, including high-profile trader Arthur Hayes, stepped in and helped defend key support, according to a February crypto.news story on Hyperliquid price action. On April 14, exchange KuCoin reported that HYPE jumped 4.61% to $44.38 with 24\u2011hour volume of roughly $454 million as spot ETF filings from Bitwise, Grayscale, and 21Shares injected new speculative flow into the market.<\/p>\n Derivatives positioning shows whales are increasingly willing to express directional views on Hyperliquid. On April 22, a BlockBeats-linked on-chain analyst cited by Binance Square highlighted whale address 0xec8 opening a 5x leveraged HYPE short at an average entry of $40.04, size around $3.38 million and liquidation near $46.60, while another whale at 0x4a8 hovered just below its liquidation line if HYPE pushed to $41.60. Separately, trader Loracle disclosed via OnchainLens a $14 million short on HYPE with 5x leverage initiated around $41.02, illustrating a crowded battlefield between leveraged bears and spot accumulators.<\/p>\n Broader on-chain data suggests that, despite these sizable short positions, large holders are net adding to longs on the Hyperliquid DEX<\/a>, a trend analytics firm AMBCrypto says \u201csignals a strong bullish sentiment among whales trading on perp DEXs\u201d as they eye a potential move toward $50 if $40 holds as support. A recent crypto.news story on Hyperliquid\u2019s whale-led defense of $28 support also pointed to rising open interest and tightening free float as catalysts that could amplify volatility as positions reach critical liquidation thresholds.<\/p>\n <\/p><\/div>\n\n\n
Whale stacking into ETF narrative<\/h2>\n