A whale wallet identified as 0x3305 has accumulated 358,609 HYPE tokens, valued at approximately $28.8 million, over the past 15 days. The sustained accumulation occurred as HYPE, the native token of the Hyperliquid Layer 1 blockchain, experienced a price pullback from recent highs.
The token faced rejection near the $89 mark in early September, subsequently falling toward $78. Wallet 0x3305 has executed daily acquisitions of HYPE tokens throughout the 15-day period rather than a single large purchase, indicating a strategic accumulation phase.
Hyperliquid operates as a purpose-built Layer 1 for on-chain perpetual futures, utilizing its own BFT consensus mechanism. Its HYPE token launched via airdrop on Nov. 29, 2024.
