Whale Unstakes 2M HYPE After 9 Months - $89.8M Profit On The Line

Hype has been one of the standout performers in the crypto market this year, sustaining a powerful uptrend since April. Its relentless momentum has drawn the attention of both retail traders and institutions, with many analysts arguing that the token still has room to run as the broader market heats up. The narrative around Hype has been fueled by strong speculative interest and its growing presence in high-volume trading activity, which has made it a favorite among momentum-driven investors.However, questions are starting to surface about whether Hype’s rally is sustainable. Some analysts warn that momentum may be weakening, signaling that a correction phase could be looming. Data from Lookonchain underscores this concern: a whale who bought and staked 2 million HYPE—at an average entry price of $8.68 nine months ago—has now unstaked the position.With the tokens freshly unlocked, speculation is growing that this whale could take profits soon. Whether this move sparks broader selling pressure or the market absorbs it will be critical for Hype’s next phase.Hype Whale Unstakes $107M As Market Awaits Next MoveHype has been one of the most talked-about assets in crypto this year, climbing over 500% in value since April and cementing itself as a market leader in speculative momentum. Now, a major development involving one of its largest holders is capturing attention. According to Lookonchain, a whale who entered the market nine months ago with a massive position has just unstaked tokens worth over $107 million, raising speculation about potential profit-taking in the weeks ahead.The data reveals that nine months ago, this whale deposited $17.4 million in USDC into Hyperliquid through three wallets. From there, he accumulated 2 million HYPE at an average of $8.68, before distributing the tokens across nine wallets for staking. This accumulation has proven to be extraordinarily profitable. Just seven days ago, the whale applied to unstake the position, and 21 hours ago, the tokens were received back in full. With Hype’s current valuation, the stash is worth $107.2 million, translating into a staggering $89.8 million profit in less than a year.This event comes at a pivotal time for Hype. While the token’s explosive rally has kept momentum traders engaged, the size of the whale’s gains points to the likelihood of profit-taking. Whether the broader market can absorb such selling pressure or if it sparks a deeper correction will determine if Hype’s bull run can extend—or if a consolidation phase is next.Uptrend Faces First Signs of CoolingHYPE has been one of the strongest performers in the market since April, with its chart showing a consistent series of higher highs and higher lows. As of now, the token trades at $52.57, down 2.69% on the day, signaling a modest pullback after a sharp run that recently pushed the price above $56. Despite this decline, the overall structure remains bullish, with price action still well above key moving averages.The 50-day moving average ($45.48) and 100-day moving average ($43.38) are trending higher, providing dynamic support zones that could absorb selling pressure if momentum cools further. Meanwhile, the 200-day moving average ($32.02) remains far below current levels, highlighting the scale of HYPE’s appreciation in recent months.This correction appears to be a natural cooling phase within an established uptrend, especially after such aggressive gains. If buyers defend the $50–$52 range, HYPE could consolidate before making another attempt at reclaiming the $55–$56 zone. A decisive break above $56 would likely set the stage for further upside continuation.Featured image from Dall-E, chart from TradingViewWeiter zum vollständigen Artikel bei NewsBTC Weiter zum vollständigen Artikel bei NewsBTC