High Stakes Capital fully liquidated a 602,421 HYPE position for $22.9 million, or about $38, extending a broader wave of profit-taking among hyperliquid whales near record highs.
Summary
- HYPE is trading around $38.86 after Whale High Stakes Capital fully exited a position worth nearly $22.94 million over 24 hours.
- The address sold 602,421 HYPE at an average price of $38.08, following earlier sales of 300,000 HYPE for $11.45 million at $38.17 apiece.
- The unwind extends a broader pattern of profit-taking among large hyperliquid whales after the derivatives-focused token hit a record high near $40.
A large hyperliquid whale (HYPE), known as High Stakes Capital, liquidated over 600,000 HYPE in the last 24 hours, taking in nearly $22.94 million and putting short-term pressure on the flagship Hyperliquid token. ChainCatcher, citing data from Onchain Lens, reported that the address sold a total of 602,421 HYPE for approximately $22.938 million USDC, at an average price of $38.08, with the final tranche of 152,421 HYPE bringing in approximately $5.82 million and completing the outflow. The sale comes as HYPE, the native token of Hyperliquid’s decentralized perpetuals and derivatives ecosystem, is trading just below recent highs at around $38.86, up 2.72% on the day.
PANews, also citing Onchain Lens, noted that in the previous 12 hours, the same whale had already sold 450,000 HYPE for $17.12 million USDC, at an average price of $38.05, while holding 152,421 HYPE worth $5.68 million before the latest leg. Earlier, Phemex News reported that High Stakes Capital unloaded 300,000 HYPE for $11.45 million, averaging $38.17, while sitting on 302,421 HYPE valued at approximately $11.54 million and a cumulative profit exceeding $33.2 million. This staggered exit pattern shows the whale consistently selling hard around the $38-$39 range rather than engaging in single-trade dumping, a strategy that tends to limit slippage but can cap upside while orders wind down.
HYPE is part of the derivatives and DeFi sector, functioning as the main token of the Hyperliquide network, where traders use the platform for decentralized perpetual futures and leveraged speculation. Hyperliquid’s token had already reached an all-time high near $39.93, as 24-hour trading volume climbed to around $496 million and open interest climbed to $10.1 billion, according to DailyCoin’s previous report on the HYPE breakout. At the same time, the total value locked in the protocol jumped more than 369% in a matter of weeks, from around $311.55 million to $1.462 billion, highlighting the scale of the capital rotation into derivatives-focused DeFi.
Recent data suggests that large HYPE holders are actively managing their exposure around the $35-$40 band. KuCoin Flash reported that another Genesis whale, linked to the address known as tummy.hl, began selling 498,000 HYPE via TWAP orders for over $20 million, with the sale expected to be completed within 21 hours. Coingabbar’s price analysis noted that HYPE was trading at nearly $34.73 in early February, up 30.53% from the previous month, with open interest at $1.65 billion even as trading volumes fell 18% to around $805.7 million, suggesting a structurally bullish but increasingly crowded trade. In this context, High Stakes Capital’s exit looks less like a capitulation and more like a classic profit-making in a tight market, as derivative tokens and exchange-related assets continue to outperform much of the broader crypto complex.
