Hyperliquid Strategies Buys $45.8 Million in HYPE

Hyperliquid Strategies bought 494,200 HYPE tokens worth $45.8 million over a 16-hour period, continuing a monthlong accumulation even as other large holders moved or began unstaking tokens that could later become available for transfer. The transactions raise the possibility of additional supply, but do not establish that any tokens were sold. Lookonchain reported that the wallet it links to Hyperliquid Strategies had accumulated 5.51 million HYPE, valued at about $476 million, over the past month. It said the company held about 35.1 million HYPE, worth approximately $3.2 billion. That compares with roughly 29.3 million tokens held at the company’s June 30 fiscal-year end. The estimates are based in part on linked-wallet activity and do not independently verify the company’s full holdings. Separately, Lookonchain reported that Multicoin Capital transferred 130,331 HYPE, valued at $12.15 million, to Coinbase Prime on September 24. The transfer does not confirm a sale; the available transaction information does not establish what happened to the tokens after they arrived at the platform.