Ethereum Whales Flip Bullish on One DEX Altcoin That’s Flirting With All-Time Highs: Lookonchain
Ethereum (ETH) whales have flipped bullish on the native token of decentralized perpetuals exchange Hyperliquid (HYPE), according to blockchain analytics firm Lookonchain. Lookonchain says that four addresses have acquired HYPE tokens worth approximately $24.03 million within hours of each other. “Whales are bullish on HYPE. qianbaidu.eth bought 260,900 HYPE ($13 million) in the past 16 hours via 2 wallets. 0xe0f0 opened a long position of 136,906 HYPE ($6.9 million) in the past 6 hours. 0x328B bought 43,415 HYPE ($2.13 million) in the past 12 hours. 0x23fA bought and staked 42,161 HYPE ($2 million) 7 hours ago.” Hyperliquid is trading at $50.57 at time of writing. Since the crypto market correction in April that saw HYPE fall to $9.50, HYPE is up by around 430%. The change in sentiment by whales comes amid plans by Hyperliquid to launch its own stablecoin. Last week, Hyperliquid announced plans to launch a “Hyperliquid-aligned, compliant stableco...