Decentralized Exchange Hyperliquid’s Platform Token HYPE Soars
Yesterday, the platform token HYPE of the decentralized exchange Hyperliquid experienced a significant increase. Ma Ji Da Ge (Huang Li Cheng), who began accumulating HYPE on May 17, has started to gradually close his HYPE long positions to secure profits, with unrealized gains reaching as high as $6.5 million.
(Background: Ma Ji Da Ge, a giant whale, increased his holdings by 200,000 HYPE tokens! Unrealized gains exceed $1 million. Are trend signals emerging?)
(Context: Ma Ji Da Ge transferred 12% of his total holdings in Cream to Binance, leading to a potential surge backed by Hyperliquid.)
According to on-chain data analyst Yu Jin’s monitoring last night (June 10), the platform token HYPE of the decentralized exchange Hyperliquid surged past $40 yesterday. Ma Ji Da Ge (Huang Li Cheng), who began accumulating HYPE on May 17, has started to gradually close his HYPE long positions to secure profits, with unrealized gains reaching as high as $6.5 million:
As the price of $HYPE surged past $40, Ma Ji Da Ge Huang Li Cheng began to gradually close his HYPE long positions for profit-taking. He currently has unrealized gains of $6.5 million on HYPE. In May, he purchased 200,000 HYPE tokens at a price of $29.4, and then took a long position of 650,000 HYPE with 5x leverage through contracts, with an average opening price of $35.6. With the price of HYPE surpassing $40, he started to gradually close his HYPE long positions for profit-taking. He still holds 440,000 HYPE long positions and 200,000 HYPE in spot trading.
As the price of $HYPE rose above $40, Ma Ji Da Ge Huang Li Cheng (@machibigbrother) began to gradually close his long positions on $HYPE for profit-taking, currently sitting on an unrealized gain of $6.5 million. He purchased 200,000 HYPE in spot at $29.4 in May and then went long on 650,000 HYPE with 5x leverage at an average opening price of $35.6. As the price of $HYPE rose above… https://t.co/lG6UornotPpic.twitter.com/EcHgHxEGRT — Yu Jin (@EmberCN) June 10, 2025
Whales Make Large Purchases of HYPE
One of the reasons for the significant rise of HYPE yesterday may stem from substantial purchases by multiple whales. According to Lookonchain’s monitoring early yesterday, two whales collectively spent $14.9 million to buy 385,720 HYPE:
In the past three hours, two whales purchased a total of 385,720 HYPE (worth $14.9 million). 0x7E4E spent $9.97 million to buy 259,367 HYPE at $38.5. 0x5dE5 spent $4.94 million to acquire 126,353 HYPE at $39.1 and staked it.
2 whales bought 385,720 $HYPE ($14.9M) in the past 3 hours. 0x7E4E spent 9.97M $USDC to buy 259,367 $HYPE at $38.5. 0x5dE5 spent 4.94M $USDC to buy 126,353 $HYPE at $39.1 and staked it. https://t.co/PwHnsKCDhs https://t.co/YjRdr0ujwbpic.twitter.com/DGEjeQaBBX — Lookonchain (@lookonchain) June 10, 2025
Additionally, it is worth mentioning that aside from Ma Ji Da Ge, according to Onchain Lens’s monitoring yesterday, a trader with a 4x leveraged long position on HYPE also saw unrealized profits of up to $10 million.
As $HYPE is about to make a new ATH, meet a legendary trader with a floating profit of over $10M on a $HYPE long with 4x leverage. https://t.co/MFqAOlP7BFpic.twitter.com/TlhMCfIa5C — Onchain Lens (@OnchainLens) June 10, 2025
HYPE Sets New All-Time High
According to data from CoinGecko, HYPE reached a peak of over $42 this morning, setting a new historical high. At the time of writing, it has slightly retraced to $41.19, with a market capitalization of approximately $13.7 billion.
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