Hyperliquid whale sold 199,999 HYPE for $8.15 million amid rising bearish pressure.
The $40 level has emerged as a critical pivot point for Hyperliquid (HYPE), signaling a potential shift in market direction rather than a long-term price ceiling. After a strong upward rally that pushed HYPE into the mid-$40 range, the asset has recently experienced a mild pullback.
Paradigm unstaked 2.14 million HYPE, worth over $88 million, raising market sell-off fears
Blockchain.com integrates Hyperliquid to offer perpetual futures trading inside its DeFi wallet with up to 40% leverage.
Hyperliquid (HYPE) continues to stand out in the altcoin market, showing relative strength compared to many competing digital assets. With daily trading volume remaining robust and its market capitalization nearing $10 billion, HYPE is currently trading in the low $40 range.
This Monday, it was revealed that Grayscale Investments modified its filing for the Hyperliquid ETF (GHYP), naming Anchorage Digital Bank as its primary custodian. This action displaces Coinbase, which previously served as the fund's broker and custodian, marking a notable shift in Grayscale's historical reliance on Brian Armstrong's platform for its exchange-traded products.
Grayscale Investments has updated its HYPE ETF application, transferring custodial responsibilities to a different service provider. The amended documentation names Anchorage Digital Bank as the new custodian, replacing Coinbase in this critical operational role.
The bearish outlook for Hyperliquid's HYPE token continued to build as selling pressure intensified across the market. On the 20th April, HYPE declined over 6.15%, trading at $41.05 at press time.
HYPE hit a 2026 high near $45 as Hyperliquid trading volume surged. The rally is up 108% since January, but bulls still need a clean breakout.
Crypto traders traded more than $500 million in synthetic oil futures over the weekend on the decentralized exchange Hyperliquid, betting that renewed military conflict in the Middle East could push crude prices back to $100 a barrel.
Hyperliquid hit a four-month high near $45 on April 14 as priority fee upgrades, broader crypto strength, and bullish signals fueled HYPE's rally.
Will HYPE rally higher amid push for U.S. regulatory clarity for perpetual decentralized exchanges?