HYPE Token Surges to $40.3 on Whale Buying

On April 10, 2026, the Hyperliquid platform's native token, HYPE, surged to around $40.3, fueled by aggressive accumulation from large investors known as whales, according to blockchain analytics firm Lookonchain. The token climbed 3.9 percent in the past 24 hours and about 10 percent over the week, rebounding from early April lows near $35.6 and extending gains that have pushed its market capitalization to approximately $9.6 billion.

Lookonchain reported that a newly created wallet deposited 5 million USDC into Hyperliquid and used roughly 2.39 million to purchase 59,239 HYPE tokens. The wallet still holds about 2.6 million USDC, suggesting potential for additional buys. Separately, on April 8, another whale deposited 7.86 million USDC and acquired 200,042 HYPE at an average price of $39.3. These moves align with broader on-chain trends showing whales defending higher price levels and turning previous losses into profits. For instance, a trader who maintained a leveraged long position since December 2025, despite a $26 million drawdown when HYPE dipped below $20, now holds a floating profit exceeding $2.77 million as the token stabilizes above $40.