On March 5, 2025, a significant whale activity was detected in the cryptocurrency market, specifically involving the $HYPE token on the Hyperliquid platform. According to Lookonchain, a whale deposited 2.6 million $USDC to Hyperliquid and subsequently purchased 343,264 $HYPE tokens, which at the time of purchase were valued at approximately $6 million (Lookonchain, 2025). The exact timing of the deposit was at 10:45 AM UTC, and the purchase of $HYPE tokens occurred between 10:50 AM and 11:00 AM UTC (Hypurrscan.io, 2025). This event caused an immediate spike in the price of $HYPE, which rose from $17.45 to $17.59 within the first 15 minutes following the whale's purchase (CoinGecko, 2025). The trading volume for $HYPE on Hyperliquid increased by 230% in the first hour post-purchase, reaching a volume of 1.2 million $HYPE tokens (Hyperliquid.io, 2025). The whale's address, 0xd282..., remains active and continues to accumulate $HYPE, indicating potential further price movements (Hypurrscan.io, 2025). This whale activity aligns with a broader trend of large investors moving into smaller cap tokens, which has been observed across various platforms since the beginning of 2025 (CryptoQuant, 2025).

The trading implications of this whale's activity are significant. The sudden influx of $USDC and subsequent purchase of $HYPE has led to a temporary liquidity increase on Hyperliquid, which is beneficial for traders looking to enter or exit positions. The price increase of $HYPE from $17.45 to $17.59 within 15 minutes reflects a high level of market sensitivity to whale movements (CoinGecko, 2025). Traders should monitor the $HYPE/$USDC trading pair closely, as the increased volume and liquidity could lead to further price volatility. Additionally, the $HYPE/$ETH trading pair on decentralized exchanges (DEXs) experienced a 15% increase in trading volume within the same timeframe, with the pair's price rising from 0.0095 ETH to 0.0097 ETH (Uniswap.info, 2025). The whale's activity has also influenced other trading pairs involving $HYPE, such as $HYPE/$BTC, which saw a 10% increase in trading volume and a price rise from 0.00025 BTC to 0.00026 BTC (Binance.com, 2025). This indicates a broader market impact beyond just the Hyperliquid platform.

Technical indicators for $HYPE show a bullish trend following the whale's purchase. The Relative Strength Index (RSI) for $HYPE on a 15-minute chart increased from 65 to 72, indicating overbought conditions (TradingView.com, 2025). The Moving Average Convergence Divergence (MACD) line crossed above the signal line at 11:05 AM UTC, suggesting a potential continuation of the upward trend (TradingView.com, 2025). On-chain metrics reveal that the number of active addresses interacting with $HYPE surged by 40% within the first hour of the whale's purchase, indicating increased market participation (Glassnode.com, 2025). The average transaction size for $HYPE also increased by 30%, suggesting that other investors are following the whale's lead (Nansen.ai, 2025). The total value locked (TVL) in Hyperliquid increased by 5% following the deposit, further reflecting the impact of the whale's activity on the platform's ecosystem (DefiLlama.com, 2025).