According to @KookCapitalLLC on X on Sep 26, 2025, they initiated a HYPE spot trade aiming for a move back to $50 with no leverage, preferring increased position size (source: @KookCapitalLLC). According to @KookCapitalLLC, their current HYPE allocation remains 90% staked and 10% farming on EVM, and they state they have never sold a HYPE token (source: @KookCapitalLLC). According to @KookCapitalLLC, over $100 million flowed from BNB Chain to Hyperliquid via deBridge yesterday, indicating rising liquidity on Hyperliquid (source: @KookCapitalLLC). According to @KookCapitalLLC, Aster is weakening and “the king is back,” suggesting Hyperliquid’s renewed dominance in on-chain trading flows (source: @KookCapitalLLC).

According to @lookonchain, three whale addresses accumulated a combined 18.9M XPL on Hyperliquid, with activity verified by Hypurrscan address pages. Source: x.com/lookonchain/status/1971408421686816975; hypurrscan.io Address 0x8393 sold 249,999 HYPE for $10.5M and bought 7.92M XPL, as shown in the on-chain records. Source: @lookonchain; hypurrscan.io/address/0x8393e538f373c986be7e45e1647db6528ac52665 Address 0xcc07 deposited 6.27M USDC to Hyperliquid and purchased 5.28M XPL at $1.19, implying roughly $6.28M in notional executed. Source: @lookonchain; hypurrscan.io/address/0xcc07FBD0AA69923d45CaA1aAE2f8b42FeF6Dd368 Address 0xF555 deposited 6M USDC to Hyperliquid and bought 5.7M XPL at $1.05, implying about $5.99M in notional. Source: @lookonchain; hypurrscan.io/address/0xF555A2643164E518bA4c1F4A5b8ad63c0D6a858D These executed fills establish visible buyer cost levels at $1.05 and $1.19 for at least 10.98M XPL, providing concrete reference prices for order flow tracking. Source: @lookonchain; hypurrscan.io

According to @lookonchain, wallet 0xa523 opened a 10x long on 450,766 HYPE worth about $20.5M roughly two hours before the post, based on on-chain tracking data. Source: Lookonchain on X. According to @lookonchain citing HyperBot data, the address executed 15 trades in the last 40 days with a cumulative loss of $41.9M and a 66.67% win rate. Source: Lookonchain and HyperBot on hyperbot.network.

According to Lookonchain, an early HYPE whale amassed over 2M HYPE with a $17.4M cost basis and the position is now valued around $89M (source: Lookonchain). The address sold 201,900 HYPE worth about $8.93M in the past two hours and transferred the funds from Hyperliquid to Aster (source: Lookonchain; address reference: Hypurrscan). The wallet still holds roughly 1.8M HYPE valued near $80M (source: Lookonchain).

According to @ai_9684xtpa, wallet 0x401...5ACb6 opened $24.67M in long positions across BTC, ETH, SOL, PUMP, and HYPE shortly after trader Eugene called for shorts, source: https://twitter.com/ai_9684xtpa/status/1970749619689988596. BTC represents 34.5% of the five long positions with an unrealized profit of about $194,000, source: https://twitter.com/ai_9684xtpa/status/1970749619689988596; source: https://hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6. The account’s total profit on Hyperliquid this year stands at $8.098 million, source: https://twitter.com/ai_9684xtpa/status/1970749619689988596; source: https://hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6. This sets up a clear positioning split between Eugene’s short view and a whale-sized long book, and traders can monitor live PnL and allocations via the Hyperbot tracker for execution context, source: https://twitter.com/ai_9684xtpa/status/1970749619689988596; source: https://hyperbot.network/trader/0x4016F161F022CBEb49B2932cb0bC9C92ded5ACb6.

According to @lookonchain, wallet 0xAD83 purchased 396,468 HYPE over the past 32 hours, spending 18.15M USDC at an average purchase price of $45.8, source: https://x.com/lookonchain/status/1970730098543473149. According to @lookonchain, the address still holds 6.03M USDC and is signaled to buy more HYPE, source: https://x.com/lookonchain/status/1970730098543473149. According to @lookonchain, this establishes a visible whale cost basis near $45.8 and indicates sustained buy-side flow from a single large address, source: https://x.com/lookonchain/status/1970730098543473149.

According to the source, Arthur Hayes sold $HYPE while still projecting 26x upside by 2028, citing short-term risks including competitors undercutting fees, a November token unlock that could add sell pressure, and revenues not yet sufficient to offset buybacks (source: remarks attributed to Arthur Hayes via the source covering a session at Korea Blockchain Week). He outlined a fund-manager playbook to take profit now and reload lower later, highlighting fee competition and the November unlock as near-term catalysts for $HYPE price action (source: remarks attributed to Arthur Hayes via the source).

According to @lookonchain, wallet 0xAD83D withdrew 10.19M USDC from HLP Vaults and deposited another 5M USDC to Hyperliquid to buy HYPE today, with on-chain traces visible at hypurrscan.io/address/0xAD83D8fFFA448E913D2795efDb868356e4291D99 (source: @lookonchain on X; Hypurrscan). The address has accumulated 114,872 HYPE worth about $5.58M, implying an average executed price near $48.6 per HYPE based on the reported totals (source: @lookonchain on X). The wallet still holds 9.85M USDC and could buy more HYPE, as noted by the tracker (source: @lookonchain on X).

According to Lookonchain, whale wallet 0x09D4 sold 56,569 $HYPE for $2.67M at a $47.23 average roughly two hours ago, realizing an estimated $103K loss, source: Lookonchain. The same wallet previously bought 56,569 $HYPE for $2.77M at a $49 average 26 days earlier, source: Lookonchain. The on-chain transaction trail for wallet 0x09D4 is visible on Hypurrscan at hypurrscan.io/address/0x09D4083fFD20D21ACb9118465aD7C52Ac8B548f7, source: Hypurrscan. Key transaction price references from this flow are $47.23 for the recent exit and $49 for the prior entry, which traders can use for liquidity mapping and execution levels in $HYPE, source: Lookonchain.

According to @ai_9684xtpa, Aster has enabled up to 300x leverage to long or short HYPE at the community’s request, indicating aggressive leveraged access for this token (source: @ai_9684xtpa on X, Sep 22, 2025). At 300x, even sub-1% adverse price moves can trigger liquidation without additional margin buffers, highlighting extreme risk for retail participants (source: Binance Academy, Leverage and Margin basics; CFTC Customer Advisory on leverage risk). Traders should monitor HYPE funding rates, open interest, and order book depth; elevated funding with rising open interest and thin liquidity can precede liquidation cascades and heightened slippage (source: Binance Academy, Perpetual Futures Funding Rates; CME Group education on Open Interest). Risk controls such as isolated margin, smaller position sizes, and hard stop-losses are prudent, as regulators warn leverage can cause rapid, total loss of funds (source: CFTC Customer Advisory on Virtual Currency Trading Risk).

According to Lookonchain, wallet 0x50dE deposited 15 million USDC to Hyperliquid immediately after a market drop and opened long positions in BTC, SOL, HYPE, and PUMP, with the transactions and positions referenced via Hypurrscan address 0x50dE6ef4D11B263DC2e4547602E963355E17dC81 (source: Lookonchain on X, Sep 22, 2025; Hypurrscan address 0x50dE6ef4D11B263DC2e4547602E963355E17dC81). For traders, this concentrates 15 million USDC in available collateral backing long exposure on these pairs on Hyperliquid and can be tracked for adds or reductions directly on the cited Hypurrscan address to gauge ongoing positioning changes (source: Hypurrscan address 0x50dE6ef4D11B263DC2e4547602E963355E17dC81; Lookonchain on X, Sep 22, 2025).

According to @CryptoMichNL, the short-term DEX narrative favors upside in $ASTER driven by perceived supportive valuations, while $HYPE is expected to underperform in the same window, source: @CryptoMichNL on X, Sep 21, 2025. The author also notes that other DEX tokens may rally in sympathy with $ASTER as the sector narrative strengthens in the near term, source: @CryptoMichNL on X, Sep 21, 2025.

According to @lookonchain, a whale likely linked to @Techno_Revenant withdrew 2.39M HYPE worth $122M about 4 hours ago and could be selling for profit at any time (source: @lookonchain). On-chain records indicate the stack was accumulated roughly 9 months ago by main wallet 0x316f...e678, which is tagged as @Techno_Revenant (source: @lookonchain; on-chain source: Hypurrscan). The estimated cost basis is around $12 per HYPE, leaving over $90M in unrealized gains at current valuations (source: @lookonchain). Based on @lookonchain’s reported $122M for 2.39M HYPE, the implied spot price is approximately $51 per token, aligning with the profit-taking risk @lookonchain flagged (calculation from @lookonchain figures; on-chain source: Hypurrscan).

According to @OnchainLens, Arthur Hayes deposited 96,628 HYPE, valued at approximately $5.03 million, into Gate and Bybit about an hour before the Sept 21, 2025 post, with the sender activity visible at hyperevmscan.io/address/0xab3fc22f04a12d624cd81923f4ca64e28c089532, source: Onchain Lens on X; HypeEVMScan. According to @OnchainLens, the post also notes Hayes delivered a presentation three weeks earlier outlining a scenario in which HYPE could achieve 126x growth, indicating a previously stated bullish thesis, source: Onchain Lens on X. According to @OnchainLens, the transfer places at least 96,628 HYPE on exchange-linked addresses at Gate and Bybit, increasing immediately tradable supply on those venues for near-term order flow, source: Onchain Lens on X; HypeEVMScan. According to @OnchainLens, traders can track subsequent movements from the referenced address on HypeEVMScan and watch HYPE spot markets on Gate and Bybit for changes in volumes, spreads, and order-book depth following the deposit, source: Onchain Lens on X; HypeEVMScan; Gate; Bybit.

According to Lookonchain, Arthur Hayes sold all 96,628 HYPE he bought a month ago for about $5.1 million, realizing roughly $823,000 in profit for a 19.2% gain, with the transactions tied to wallet 0xc32235231d29831a2cb2a11e3f9c7f38160fc1dd visible on Hypurrscan. According to Lookonchain, Hayes had publicly discussed a potential 126x upside for HYPE during a WebX Summit speech on Aug 25, but the on-chain records now indicate a complete exit with less than a 20% return. According to Hypurrscan and Lookonchain, the sale activity and profit figures are derived from on-chain transfers and the reported entry and exit values.

According to @OnchainLens, a whale deposited $2.8M USDC into HyperLiquid and purchased 52,020 HYPE at an average price of $53.96, equating to roughly $2.807M in notional exposure (source: twitter.com/OnchainLens/status/1969601029143740786). The same wallet shows 420,556 HYPE staked valued at $22.72M, indicating a large locked balance at the time of observation (source: hypurrscan.io/address/0xFa0F450d61aCd11bC0F6A986260fC25C1758Ccb9). For traders, the executed fill price of $53.96 provides a clear on-chain cost basis to monitor for liquidity and order flow around that level (source: twitter.com/OnchainLens/status/1969601029143740786).

According to @ai_9684xtpa, on-chain address 0x939f95036d2e7b6d7419ec072bf9d967352204d2 holds a 10x leveraged long worth $7.15M on HYPE and a 3x leveraged short worth $3.78M on ASTER on Hyperliquid; source: @ai_9684xtpa on X; source: hyperbot.network/trader/0x939f95036d2e7b6d7419ec072bf9d967352204d2. The address is reported as the largest ASTER airdrop position on Hyperliquid, indicating significant market-making or directional intent; source: @ai_9684xtpa on X. Current unrealized PnL is a -$1.352M loss, with the ASTER entry price noted at $0.7791; source: @ai_9684xtpa on X; source: hyperbot.network/trader/0x939f95036d2e7b6d7419ec072bf9d967352204d2. Gross notional exposure across both legs totals approximately $10.93M, calculated from the reported figures; source: calculation based on numbers reported by @ai_9684xtpa on X.

According to @KookCapitalLLC, Pump.fun (PUMP) has roughly the same run-rate revenue as Hyperliquid (HYPE) while HYPE trades at about 7x the fully diluted valuation (FDV), indicating a potential relative value mispricing, source: @KookCapitalLLC on X, Sep 19, 2025. According to @KookCapitalLLC, the market currently treats HYPE’s perpetuals revenue as more durable, aided by builder-code distribution with Phantom and MetaMask plus the upcoming HIP-3, whereas PUMP lacks an equivalent distribution model, source: @KookCapitalLLC on X, Sep 19, 2025. According to @KookCapitalLLC, meme-launchpad revenues are underappreciated in durability because a large cohort of traders prefers gambling on memes over perps, and Pump.fun dominates the meme market, source: @KookCapitalLLC on X, Sep 19, 2025. According to @KookCapitalLLC, Pump.fun has shown +450% app user growth and added a streaming business, which the author cites as innovation supporting revenue durability, source: @KookCapitalLLC on X, Sep 19, 2025. According to @KookCapitalLLC, HYPE is a strong token but not worth a 7x premium over PUMP on current run-rate revenue, and the author expects PUMP to re-rate higher to narrow the valuation gap, source: @KookCapitalLLC on X, Sep 19, 2025.

According to @lookonchain, wallet 0x1370 spent 5.71M USDC to acquire 101,615 HYPE at an average price of $56.2 over the past 26 hours (source: @lookonchain on X). The address reference shared is hypurrscan.io/address/0x13706daed72053ae268cf51fd7e838d011203627, where the HYPE accumulation activity can be reviewed on-chain (source: hypurrscan.io). The reported $56.2 per HYPE represents the whale’s average cost basis and a clear reference level for tracking subsequent flows (source: @lookonchain on X). Traders can monitor wallet 0x1370 for any follow-up transfers or additional buys via hypurrscan.io to stay aligned with on-chain order flow (source: hypurrscan.io).

According to @OnchainLens, a single whale deposited $3.09M USDC to HyperLiquid and bought 54,225 HYPE in the latest transaction, source: Onchain Lens X post https://x.com/OnchainLens/status/1968219289971986606; Hypurrscan address https://hypurrscan.io/address/0x13706DaEd72053Ae268cf51fd7e838D011203627. Over the past 24 hours, the same wallet accumulated a total of 101,615 HYPE, spending $5.7M USDC at an average execution price of $56.19, source: Onchain Lens X post https://x.com/OnchainLens/status/1968219289971986606; Hypurrscan address https://hypurrscan.io/address/0x13706DaEd72053Ae268cf51fd7e838D011203627.