Hyperliquid (HYPE) Rallies 15%; Long Bets Top $50 Million During Sharp Upswing

Hyperliquid (HYPE) rose 14.85% over 24 hours to $91.54 as of 10:40 a.m. ET (14:40 UTC) Thursday, while ICE, the parent of the New York Stock Exchange, and Trade.xyz proposed bringing its perpetual contracts into a U.S.-regulated market.

HYPE crossed $90 during the advance, which saw about $1.08 billion in daily notional trading volume.

The largest short trader incurred nearly $1 million in stop-losses and had a short position worth more than $50 million. More than $50 million in aggregate long bets appeared during the sharpest part of the upswing, while a whale held a short position worth tens of millions. HYPE long positions showed gains above 70% over a day.

The long-bet figure covers the sharpest stretch of the advance, while the quoted price change covers 24 hours.