Hyperliquid Sees $32,898,942 HYPE Whale Transfer as Price Falls

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Blockchain data tracker Whale Alert recently reported the transfer of 557,902 HYPE tokens valued at $32,898,942 within the last 24 hours. Advertisement Whale Alert reported that 557,902 HYPE worth $32,898,942 was transferred from an unknown wallet to HyperCore, the core trading infrastructure of the Hyperliquid blockchain. 🚨 🚨 557,902 $HYPE (32,898,942 USD) transferred from unknown wallet to #HyperCore https://t.co/vFrMZ0HJNh HOT Stories Risk of XRP Losing $1 Just Spiked Up, Will Zcash (ZEC) Retain $500? Hyperliquid's (HYPE) $70 Bounce Is Possible: Crypto Market Review Coinbase's Armstrong Reacts to Nvidia CEO's Very First Tweet — Whale Alert (@whale_alert) July 24, 2026 HyperCore is the native financial and trading execution engine for the Hyperliquid Layer 1 blockchain, running fully on-chain spot and perpetual order books. Advertisement While details about the intent of the transaction were scant per Whale Alert's reporting, on-chain analytics platform Lookonchain reported a similar move, which might provide further details. You Might Also Like Mon, 06/29/2026 - 10:40 Hyperliquid (HYPE) Is Back on Bullish Track: Longs Now Outweigh Shorts By Arman Shirinyan Lookonchain reported that a whale received 557,902 HYPE from FalconX and deposited it into Hyperliquid for staking. Going by this, the reason why the 557,902 HYPE might have been moved to the HyperCore platform was to stake it. Advertisement This follows an increase in staking activity by whales or large holders. On July 24, Lookonchain reported a whale who staked 2.93 million HYPE worth $172 million. Within 24 hours, 19 wallets (likely belonging to the same whale) deposited 2.93 million HYPE into Hyperliquid and staked it. Hyperliquid price action At the time of writing, HYPE was down 1.59% in the last 24 hours to $57.48, extending a drop since the week's start. The token is likewise down 2.13% weekly. You Might Also Like Sun, 07/19/2026 - 05:30 Hyperliquid Flips XRP in Futures Open Interest By Caroline Amosun HYPE's price fell for four days straight, from July 21 to July 24, as its recovery lagged, forming a series of lower highs since its July pullback from record highs. The broader market picture tells a cautious story, with several major cryptocurrencies down over the past day. In the last 24 hours, $244 million has been liquidated in crypto positions, with longs accounting for a larger chunk at $215 million while shorts came in at $29 million, according to CoinGlass data. The recent drop highlights a lingering weakness across a larger portion of the altcoin market, with a few tokens posting gains. #Hyperliquid